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Linkbancorp (OTCPK:LNKB), the holding company of The Gratz Bank, has filed for a proposed $40M initial public offering and to uplist its shares to Nasdaq.
Pennsylvania-based Linkbancorp said that it is looking to offer 4.6M shares priced between $8 and $9.50 per share. If priced at the midpoint at $8.75, the deal would raise approximately $40.2M.
The community banking group hopes to list its shares to Nasdaq under the symbol LNKB. Its stock is currently traded OTC under the same symbol. The bank had assets of $1.1B as of June 30.
Underwriters will be granted a 30-day option to buy up to 686K additional shares to cover over-allotments. Stephens and Piper Sandler are serving as joint bookrunners. D.A. Davidson is serving as co-manager.
The banking group operates 10 client service centers in southeastern and central Pennsylvania.
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Image and article originally from seekingalpha.com. Read the original article here.