Colony Bankcorp, Inc. Announces Upsize and Pricing of Underwritten Offering of Common Stock

Feb 08, 2022

Colony Bankcorp, Inc. (Nasdaq: CBAN) (“Colony” or the “Company”), the holding company for Colony Bank, a Georgia state-chartered bank, today announced the pricing of an upsized underwritten public offering of 3,346,509 shares of its common stock at a price to the public of $16.50 per share for gross proceeds of approximately $55.2 million. The net proceeds to the Company, after deducting underwriting discounts and commissions but before deducting estimated offering expenses, are expected to be approximately $52.2 million. The Company has granted the underwriters a 30-day option to purchase an additional 501,976 shares of Company common stock at the public offering price.

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