LINKBANCORP, Inc. (Nasdaq: LNKB), the holding company of The Gratz Bank, including its LINKBANK division, today announced the closing of its initial public offering of common stock. The Company sold 4,575,000 shares of its common stock at a public offering price of $7.50 per share. The offering is expected to result in gross proceeds to the Company of approximately $34.3 million. The net proceeds to the Company, after deducting the underwriting discount and estimated offering expenses, are expected to be approximately $31.1 million.
The Company’s common stock now trades on the Nasdaq Capital Market under the symbol “LNKB.”
Stephens Inc. and Piper Sandler & Co. acted as joint book-running managers. D.A. Davidson & Co. served as co-manager.
The underwriters have a 30-day option to purchase up to 686,250 additional shares of common stock from the Company at the initial public offering price of $7.50, less the underwriting discount, to cover any over-allotments.
About LINKBANCORP, Inc.
LINKBANCORP, Inc. was formed in 2018 with a mission to positively impact lives through community banking. Its subsidiary bank, The Gratz Bank, is a Pennsylvania state-chartered bank serving individuals, families, nonprofits and business clients throughout Central and Southeastern Pennsylvania through 10 client solutions centers of The Gratz Bank and LINKBANK, a division of The Gratz Bank.
