HARRISBURG, Pa.--(BUSINESS WIRE)--
LINKBANCORP, Inc. (OTC Pink: LNKB) (the “Company”), the parent company for LINKBANK, announced that it has completed an oversubscribed private placement offering of $5 million in common stock, primarily from accredited individual investors in LINKBANK’s Southcentral Pennsylvania market.
Chief Executive Officer Andrew Samuel stated, “We are very pleased with the strong demand we experienced for this offering and encouraged by this support of our growth strategy and mission to positively impact lives.”
The Company issued 421,292 shares in the offering at a price of $12.00 per share. The Company also completed a $20 million subordinated debt offering in September 2020. The Company intends to use the additional capital to support continued growth opportunities.
About LINKBANCORP, Inc.
LINKBANCORP, Inc. was formed in 2018 with a mission to positively impact lives through community banking. Its subsidiary bank, LINKBANK is a Pennsylvania state-chartered bank serving individuals, families, nonprofit and business clients throughout Central and Southeastern Pennsylvania. At September 30, 2020, LINKBANK had approximately $368 million in total assets. LINKBANCORP, Inc. common stock is traded over the counter (OTC Pink) under the symbol “LNKB.”
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of the federal securities laws. Statements in this release that are not strictly historical are forward-looking and are based upon current expectations that may differ materially from actual results. These forward-looking statements, identified by words such as “will,” “expected,” “believe,” and “prospects,” involve risks and uncertainties that could cause actual results to differ materially from those anticipated by the statements made herein. These risks and uncertainties include but are not limited to general economic trends and changes in interest rates, increased competition, changes in consumer demand for financial services, the possibility of unforeseen events affecting the industry generally, the uncertainties associated with newly developed or acquired operations, and market disruptions. The Company undertakes no obligation to release revisions to these forward-looking statements publicly to reflect events or circumstances after the date hereof or to reflect the occurrence of unforeseen events, except as required by law.
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Andrew Samuel
(717) 798-4230
asamuel@linkbank.com
Source: LINKBANCORP, Inc.