Eagle Financial Services, Inc. Announces Pricing of Common Stock Offering
Eagle Financial Services (OTCQX: EFSI) has announced the pricing of its underwritten public offering of 1,562,500 shares of common stock at $32.00 per share. The company expects to raise approximately $47.0 million in proceeds after deducting underwriting costs but before operating expenses.
The underwriters have a 30-day option to purchase up to an additional 234,375 shares. Trading is expected to begin on the Nasdaq Capital Market on February 7, 2025, under the ticker symbol 'EFSI'. The offering is anticipated to close around February 10, 2025.
The company plans to use the net proceeds for general corporate purposes, including potential balance sheet restructuring through repositioning their available-for-sale debt securities portfolio and supporting capital ratios and continued growth. Keefe, Bruyette & Woods is serving as the sole bookrunner, with D.A. Davidson & Co. acting as lead manager.
Eagle Financial Services (OTCQX: EFSI) ha annunciato il prezzo della sua offerta pubblica sottoscritta di 1.562.500 azioni di capitale normale a 32,00 $ per azione. La società prevede di raccogliere circa 47,0 milioni di dollari di proventi dopo aver detratto i costi di sottoscrizione ma prima delle spese operative.
I sottoscrittori hanno un'opzione di 30 giorni per acquistare fino a ulteriori 234.375 azioni. È previsto che le contrattazioni inizino sul Nasdaq Capital Market il 7 febbraio 2025, con il simbolo del ticker 'EFSI'. Si prevede che l'offerta si chiuda intorno al 10 febbraio 2025.
La società intende utilizzare i proventi netti per scopi aziendali generali, inclusa una potenziale ristrutturazione del bilancio attraverso il riposizionamento del loro portafoglio di titoli di debito disponibili per la vendita e per sostenere i rapporti di capitale e la continua crescita. Keefe, Bruyette & Woods funge da unico bookrunner, mentre D.A. Davidson & Co. agisce come lead manager.
Eagle Financial Services (OTCQX: EFSI) ha anunciado el precio de su oferta pública subastada de 1,562,500 acciones de capital común a $32.00 por acción. La empresa espera recaudar aproximadamente $47.0 millones en ingresos después de deducir los costos de suscripción pero antes de gastos operativos.
Los suscriptores tienen una opción de 30 días para comprar hasta 234,375 acciones adicionales. Se espera que la negociación comience en el Nasdaq Capital Market el 7 de febrero de 2025, bajo el símbolo de cotización 'EFSI'. Se anticipa que la oferta se cierre alrededor del 10 de febrero de 2025.
La empresa planea usar los ingresos netos para fines corporativos generales, incluida una posible reestructuración del balance a través del reposicionamiento de su cartera de valores de deuda disponibles para la venta y para apoyar las relaciones de capital y el crecimiento continuo. Keefe, Bruyette & Woods actúa como bookrunner exclusivo, con D.A. Davidson & Co. actuando como gerente principal.
이글 파이낸셜 서비스 (OTCQX: EFSI)는 1,562,500주의 보통주 공모가 주당 $32.00로 책정되었음을 발표했습니다. 이 회사는 인수 비용을 공제한 후 약 4700만 달러의 수익을 올릴 것으로 예상하고 있습니다.
인수자들은 최대 234,375주의 추가 구매를 위한 30일 옵션을 보유하고 있습니다. 거래는 2025년 2월 7일에 'EFSI'라는 티커 기호로 나스닥 자본 시장에서 시작될 것으로 예상됩니다. 이 제안은 2025년 2월 10일경에 마감될 것으로 예상됩니다.
회사는 순수익을 일반 기업 목적에 사용하고, 판매 가능한 채무 증권 포트폴리오의 재배치를 통한 재무 구조 조정과 자본 비율 지원 및 지속적인 성장을 위한 자금으로 사용할 계획입니다. Keefe, Bruyette & Woods는 단독 북러너 역할을 하며 D.A. Davidson & Co.가 주요 관리자로 활동하고 있습니다.
Eagle Financial Services (OTCQX: EFSI) a annoncé le prix de son offre publique souscrite de 1 562 500 actions de capital social à 32,00 $ par action. La société s'attend à lever environ 47,0 millions de dollars de produits après déduction des frais de souscription mais avant les dépenses d'exploitation.
Les souscripteurs disposent d'une option de 30 jours pour acheter jusqu'à 234 375 actions supplémentaires. Les échanges devraient commencer sur le Nasdaq Capital Market le 7 février 2025, sous le symbole boursier 'EFSI'. La clôture de l'offre est prévue autour du 10 février 2025.
La société prévoit d'utiliser les produits nets à des fins d'entreprise générales, y compris une éventuelle restructuration de son bilan grâce à un repositionnement de son portefeuille de titres de créance disponibles à la vente et au soutien des ratios de capital ainsi qu'à la croissance continue. Keefe, Bruyette & Woods agit en tant que bookrunner exclusif, tandis que D.A. Davidson & Co. est le gestionnaire principal.
Eagle Financial Services (OTCQX: EFSI) hat den Preis für ihr unterzeichnetes öffentliches Angebot von 1.562.500 Aktien des Stammkapitals zu 32,00 $ pro Aktie bekannt gegeben. Das Unternehmen erwartet, nach Abzug der Underwriting-Kosten, aber vor Betriebsausgaben etwa 47,0 Millionen Dollar an Einnahmen zu erzielen.
Die Underwriter haben eine 30-tägige Option, bis zu weitere 234.375 Aktien zu kaufen. Der Handel wird voraussichtlich am 7. Februar 2025 an der Nasdaq Capital Market unter dem Handelssymbol 'EFSI' beginnen. Das Angebot wird voraussichtlich um den 10. Februar 2025 abgeschlossen.
Die Gesellschaft plant, die Nettoerlöse für allgemeine Unternehmenszwecke zu verwenden, einschließlich einer möglichen Umstrukturierung der Bilanz durch Neupositionierung ihres Portfolios an zur Verkaufsangebot stehenden Schuldverschreibungen sowie zur Unterstützung der Kapitalquoten und für das kontinuierliche Wachstum. Keefe, Bruyette & Woods fungiert als alleiniger Bookrunner, während D.A. Davidson & Co. als Hauptverwalter agiert.
- Uplisting from OTCQX to Nasdaq Capital Market, potentially increasing stock visibility and liquidity
- Successful capital raise of $47.0 million strengthening the company's financial position
- Additional potential capital through 30-day option for 234,375 shares
- Potential dilution for existing shareholders due to issuance of 1,562,500 new shares
- Additional dilution possible if underwriters exercise their option for 234,375 shares
The Company intends to use the net proceeds from this offering for general corporate purposes, which may include balance sheet restructuring through the repositioning of our available-for-sale debt securities portfolio, and to support our capital ratios and our continued growth.
Keefe, Bruyette & Woods, A Stifel Company is serving as the sole bookrunner for the offering, and D.A. Davidson & Co. is acting as the lead manager.
The Company expects to close the offering, subject to customary conditions, on or about February 10, 2025.
Additional Information Regarding the Offering
The offering of common stock is being 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 preliminary prospectus supplement to which this communication relates has been filed with the SEC. A final prospectus supplement and accompanying prospectus will be filed with the SEC. Prospective investors should read the preliminary 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. When available, copies of the preliminary prospectus supplement, 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. (OTCQX: 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.
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SOURCE Eagle Financial Services, Inc.
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