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Civista Bancshares, Inc. Announces Pricing of Public Offering of Common Shares
Civista Bancshares, Inc. (NASDAQ: CIVB) ("Civista"), parent company of Civista Bank, today announced the pricing of an underwritten public offering of 3,294,120 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.
About this update from Civista Bancshares, Inc.
[{"type":"text","content":"SANDUSKY, Ohio, July 10, 2025 /PRNewswire/ -- Civista Bancshares, Inc. (NASDAQ: CIVB) ("Civista"), parent company of Civista Bank, today announced the pricing of an underwritten public offering of 3,294,120 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.","length":422,"tagName":"p"},{"type":"image","alt":"Civista Bancshares, Inc.","displaySize":"","headline":null,"caption":"Civista Bancshares, Inc.","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":140,"url":"https://media.zenfs.com/en/prnewswire.com/628735d706b0c629d326f5f9afa717fc"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/ucMDGZW3mWlI6qCfdYelIw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTI0NztjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/628735d706b0c629d326f5f9afa717fc","width":400,"height":140}},"href":"https://mma.prnewswire.com/media/241852/civista_bancshares_logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"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 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, subject to customary closing conditions.","length":595,"tagName":"p"},{"type":"text","content":"Piper Sandler & Co. is serving as the sole book-running manager. D.A. Davidson & Co., Hovde Group, LLC, Janney Montgomery Scott LLC, Keefe, Bruyette & Woods, A Stifel Company, and Stephens Inc. are serving as co-managers in the offering.","length":249,"tagName":"p"},{"type":"text","content":"Civista has filed with the Securities and Exchange Commission (the "SEC") a shelf registration statement (including a prospectus) on Form S-3 (File No. 333-282560) and a preliminary prospectus supplement dated July 10, 2025 for the offering of its common shares to which this press release ...