Core Viewpoint - Norwood Financial Corp has announced a public offering of 1,000,000 shares of common stock at a price of $26.00 per share, aiming for gross proceeds of approximately $26 million [1][2]. Group 1: Offering Details - The company has granted underwriters a 30-day option to purchase an additional 150,000 shares, which could increase total gross proceeds to approximately $30 million if fully exercised [2]. - The offering is expected to close around December 19, 2024, subject to customary conditions [2]. Group 2: Use of Proceeds - Net proceeds from the offering will be used to invest in the bank subsidiary to support capital ratios, reposition a substantial portion of the available-for-sale debt securities portfolio, and for general corporate purposes, including stock repurchase and potential acquisitions [3]. Group 3: Underwriters - Piper Sandler & Co. is the lead book-running manager for the offering, while Janney Montgomery Scott LLC is acting as the joint book-running manager [4]. Group 4: Company Background - Norwood Financial Corp is the parent company of Wayne Bank, operating 14 offices in Northeastern Pennsylvania and 15 offices in New York [9].
Norwood Financial Corp Announces Pricing of Common Stock Offering