Bookrunners Sandler O'Neill, Janney Montgomery Scott assist with sale
By Devika Patel
Knoxville, Tenn., Dec. 10 – Codorus Valley Bancorp, Inc. said it priced a $30 million public offering of stock with a $4.5 million greenshoe. The offering was announced Monday.
The company will sell 1,519,000 common shares at $19.75 per share. The price per share is identical to the Dec. 9 closing share price.
Sandler O'Neill + Partners, LP and Janney Montgomery Scott LLC are the bookrunners.
Settlement is expected Dec. 15.
Proceeds will be used to redeem the $12 million series B senior non-cumulative perpetual preferred stock that the company issued to the U.S. Department of the Treasury under the small business lending fund program and for general corporate purposes.
The bank holding company is based in York, Pa.
| Issuer: | Codorus Valley Bancorp, Inc.
|
| Issue: | Common stock
|
| Amount: | $30 million
|
| Greenshoe: | $4.5 million, or 227,850 shares
|
| Shares: | 1,519,000
|
| Price: | $19.75
|
| Warrants: | No
|
| Bookrunners: | Sandler O'Neill + Partners, LP and Janney Montgomery Scott LLC
|
| Announcement date: | Dec. 7
|
| Pricing date: | Dec. 10
|
| Settlement date: | Dec. 15
|
| Stock symbol: | Nasdaq: CVLY
|
| Stock price: | $19.75 at close Dec. 9
|
| Market capitalization: | $122.89 million
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
