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Northeast Bank (the "Bank") (NASDAQ:NBN) announced today that it has entered into an equity distribution agreement with Piper Sandler & Co. ("Piper Sandler") and Keefe, Bruyette & Woods, Inc. ("KBW") for the offer and sale from time to time of shares of its voting common stock having an aggregate offering price of up to $75,000,000.00 (the "Shares") in an at-the-market offering. All of the Shares to be sold in the offering will be offered by the Bank.
The Bank intends to use the net proceeds from the offering for general corporate purposes, including the support of additional growth.
The Shares will be offered through Piper Sandler and KBW, as the distribution agents. Sales of the Shares, if any, will be made from time to time in negotiated transactions at market prices prevailing at the time of a sale or at negotiated prices, or as otherwise agreed with the distribution agents, and, as a result, sale prices may vary. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or the actual size or terms of the offering.
Posted In: NBN
