Evans Bancorp (EVBN) Raised $13.4 Million From Common Stock Offering
Evans Bancorp, Inc. (Nasdaq: EVBN) closed on its common stock offering of 1,222,000 shares at a price of $12.00 per share, which includes 97,000 shares that were sold pursuant to the exercise by the underwriter of the over-allotment option.
Evans raised approximately $13.4 million in net proceeds after deducting fees and expenses. The Company intends to use the net proceeds from the offering for general corporate purposes, which will likely include support for organic growth, and may also include financing potential acquisitions of branches or other financial institutions.
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