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Linkbancorp to issue its first public stock offering
Harrisburg-based Linkbancorp Inc., the holding company of The Gratz Bank, announced Wednesday its initial public offering of common stock, with a price expected to be between $8 and $9.50 per share.
Linkbancorp is offering 4.575 million shares of common stock, and underwriters will have a 30-day option to purchase up to an additional 686,250 shares from the company.
Stephens Inc. and Piper Sandler & Co. are serving as joint book-running managers, and D.A. Davidson & Co. is serving as co-manager.
The common stock is expected to trade on the Nasdaq Capital Market under the symbol “LNKB.”
A release said Linkbancorp plans to use the net proceeds from the offering to support the company’s growth strategy, such as expanding its lending activities and financing strategic acquisitions “that may from time to time arise … .”
At this time, Linkbancorp has no immediate plans, arrangements or understandings, the release noted, “relating to any material acquisition.”
Paula Wolf is a freelance writer
