Civista Bancshares Prices Public Offering Of 3.29 Mln Common Shares At $21.25/shr

(RTTNews) - Civista Bancshares Inc. (CIVB) announced that it has priced an underwritten public offering of 3.29 million common shares at a price of $21.25 per share, for an aggregate offering amount of $70.0 million.

Civista also granted the underwriters a 30-day option to purchase up to an additional 494,118 common shares.

The aggregate gross proceeds of the offering will be approximately $70.0 million before discounts and expenses. Assuming full exercise by the underwriters of their option to purchase additional common shares, the aggregate gross proceeds of the offering would be approximately $80.5 million before discounts and expenses.

Civista said it plans to use the net proceeds from the offering for general corporate purposes, which may include supporting organic growth opportunities and future strategic transactions. The offering is expected to close on July 14, 2025.