Eagle Financial Services, Inc. Announces Closing of Overallotment Option and Issuance of 234,375 Shares of Common Stock
Eagle Financial Services (Nasdaq: EFSI) announced the successful exercise of the overallotment option from its recent public offering, resulting in the sale of an additional 234,375 shares of common stock at $32.00 per share. The company expects to receive approximately $7.1 million in proceeds after deducting underwriting discounts and commissions but before operating expenses.
The offering was conducted through a registration statement on Form S-3, with Keefe, Bruyette & Woods serving as the sole bookrunner and D.A. Davidson & Co. as lead manager. The Company operates through its subsidiary, Bank of Clarke, providing commercial banking, retail banking, and trust services through thirteen branches and various facilities across Virginia.
Eagle Financial Services (Nasdaq: EFSI) ha annunciato il successo dell'esercizio dell'opzione di sovrallocazione della sua recente offerta pubblica, risultando nella vendita di ulteriori 234.375 azioni ordinarie a $32,00 per azione. L'azienda prevede di ricevere circa $7,1 milioni in proventi dopo aver dedotto gli sconti e le commissioni di sottoscrizione, ma prima delle spese operative.
L'offerta è stata condotta attraverso una dichiarazione di registrazione sul modulo S-3, con Keefe, Bruyette & Woods che ha servito come unico bookrunner e D.A. Davidson & Co. come gestore principale. La società opera attraverso la sua filiale, Bank of Clarke, fornendo servizi bancari commerciali, bancari al dettaglio e fiduciari attraverso tredici filiali e varie strutture in Virginia.
Eagle Financial Services (Nasdaq: EFSI) anunció el exitoso ejercicio de la opción de sobreasignación de su reciente oferta pública, resultando en la venta de 234,375 acciones adicionales de acciones ordinarias a $32.00 por acción. La compañía espera recibir aproximadamente $7.1 millones en ingresos después de deducir descuentos y comisiones de suscripción, pero antes de gastos operativos.
La oferta se llevó a cabo a través de una declaración de registro en el Formulario S-3, con Keefe, Bruyette & Woods actuando como único bookrunner y D.A. Davidson & Co. como gerente principal. La compañía opera a través de su filial, Bank of Clarke, proporcionando servicios bancarios comerciales, bancarios minoristas y fiduciarios a través de trece sucursales y diversas instalaciones en Virginia.
이글 파이낸셜 서비스 (Nasdaq: EFSI)는 최근 공개 모집의 전환 옵션을 성공적으로 행사했다고 발표하며, 234,375주의 추가 보통주가 주당 $32.00에 판매되었습니다. 회사는 인수 수수료 및 커미션을 공제한 후 약 $7.1 백만의 수익을 받을 것으로 예상하고 있습니다.
이번 공모는 S-3 양식의 등록신청서를 통해 진행되었으며, Keefe, Bruyette & Woods가 단독 북러너로, D.A. Davidson & Co.가 주요 관리자로 활동했습니다. 회사는 자회사인 Bank of Clarke를 통해 운영되며, 버지니아 전역의 13개 지점과 다양한 시설을 통해 상업은행, 소매은행 및 신탁 서비스를 제공합니다.
Eagle Financial Services (Nasdaq: EFSI) a annoncé l'exercice réussi de l'option de surallocation de son offre publique récente, entraînant la vente de 234.375 actions supplémentaires de capital ordinaire à 32,00 $ par action. La société s'attend à recevoir environ 7,1 millions de dollars de produits après déduction des remises et des commissions de souscription, mais avant les frais d'exploitation.
L'offre a été réalisée par le biais d'une déclaration d'enregistrement sur le formulaire S-3, avec Keefe, Bruyette & Woods servant de bookrunner unique et D.A. Davidson & Co. en tant que gestionnaire principal. La société opère par l'intermédiaire de sa filiale, la Bank of Clarke, offrant des services bancaires commerciaux, des services bancaires de détail et des services fiduciaires à travers treize succursales et diverses installations en Virginie.
Eagle Financial Services (Nasdaq: EFSI) gab bekannt, dass die Ausübung der Überplatzierungsoption aus dem kürzlichen öffentlichen Angebot erfolgreich war, was zum Verkauf von 234.375 Aktien zusätzlicher Stammaktien zu $32,00 pro Aktie führte. Das Unternehmen erwartet, nach Abzug der Underwriting-Rabatte und -Provisionen, aber vor Betriebskosten, etwa $7,1 Millionen an Erträgen zu erhalten.
Das Angebot wurde durch eine Registrierungsanmeldung auf dem Formular S-3 durchgeführt, wobei Keefe, Bruyette & Woods als alleiniger Bookrunner und D.A. Davidson & Co. als Hauptmanager fungierten. Das Unternehmen operiert über seine Tochtergesellschaft, die Bank of Clarke, und bietet gewerbliche Bankdienstleistungen, Einzelhandelsbankdienstleistungen und Treuhanddienste über dreizehn Filialen und verschiedene Einrichtungen in Virginia an.
- Successfully raised $7.1 million in additional capital through overallotment option
- Strong market demand demonstrated by full exercise of overallotment option
- Potential dilution of existing shareholders due to issuance of 234,375 new shares
Keefe, Bruyette & Woods, A Stifel Company served as the sole bookrunner for the offering, and D.A. Davidson & Co. acted as the lead manager.
Additional Information Regarding the Offering
The offering of common stock was made pursuant to a registration statement on Form S-3 (File No. 333-269804) that was declared effective by the Securities and Exchange Commission (the "SEC") on February 28, 2023. A final prospectus supplement dated February 6, 2025 and accompanying prospectus dated February 28, 2023, which form part of the registration statement, have been filed with the SEC. Prospective investors should read the final prospectus supplement and the accompanying prospectus and other documents the Company has filed with the SEC for more complete information about the Company and the offering. Copies of these documents are available at no charge by visiting the SEC's website at www.sec.gov. Copies of the final prospectus supplement and accompanying prospectus related to the offering may be obtained by contacting Keefe, Bruyette & Woods, A Stifel Company by telephone at (800) 966-1559 or by e-mail at USCapitalMarkets@kbw.com.
No Offer or Solicitation
This press release does not constitute an offer to sell, a solicitation of an offer to sell, or the solicitation of an offer to buy any securities. There will be no sale of securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
About Eagle Financial Services, Inc.
Eagle Financial Services, Inc. (Nasdaq CM: EFSI) (the "Company") is a bank holding company that was incorporated in 1991. The Company is headquartered in
Special Note Concerning Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent plans, estimates, objectives, goals, guidelines, expectations, intentions, projections, and statements of the Company's beliefs concerning future events, business plans, objectives, expected operating results, and the assumptions upon which those statements are based. Forward-looking statements include without limitation, any statement that may predict, forecast, indicate, or imply future results, performance, or achievements, and are typically identified with words such as "may," "could," "should," "will," "would," "believe," "anticipate," "estimate," "expect," "aim," "intend," "plan" or words or phases of similar meaning. The Company cautions that the forward-looking statements are based largely on the Company's expectations and are subject to a number of known and unknown risks and uncertainties that are subject to change based on factors which are, in many instances, beyond the Company's control. Such forward-looking statements are based on various assumptions (some of which may be beyond the Company's control) and are subject to risks and uncertainties, which change over time, and other factors, which could cause actual results to differ materially from those currently anticipated. New risks and uncertainties may emerge from time to time, and it is not possible for the Company to predict their occurrence or how they will affect the Company. If one or more of the factors affecting the Company's forward-looking information and statements proves incorrect, then the Company's actual results, performance, or achievements could differ materially from those expressed in, or implied by, forward-looking information and statements contained in this press release. Therefore, the Company cautions you not to place undue reliance on the Company's forward-looking information and statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in the Company's Annual Report on Form 10-K for the year ended December 31, 2023 under the section entitled "Risk Factors," and other documents filed by the Company with the SEC from time to time.
The Company disclaims any duty to revise or update the forward-looking statements, whether written or oral, to reflect actual results or changes in the factors affecting the forward-looking statements, except as specifically required by law.
View original content to download multimedia:https://www.prnewswire.com/news-releases/eagle-financial-services-inc-announces-closing-of-overallotment-option-and-issuance-of-234-375-shares-of-common-stock-302376385.html
SOURCE Eagle Financial Services, Inc.
FAQ
How much did Eagle Financial Services (EFSI) raise through the overallotment option?
What was the price per share for EFSI's additional stock issuance in February 2025?
How many additional shares did EFSI issue through the overallotment option?
Who were the underwriters for EFSI's stock offering?
