Rhinebeck completed its second-step conversion to a fully public stock holding company and closed an $88.8 million offering.
Key Highlights:
- Completed second-step conversion; mutual holding company ceased to exist upon closing.
- Sold 8,880,210 common shares at $10.00 per share, raising $88.8 million gross.
- All public shares converted at a 1.3978 exchange ratio; 15,638,237 shares outstanding post-closing.
- DRS statements and interest/refund checks expected to mail on or about July 21, 2026; fractional-share cash payments around July 24, 2026.
Original SEC Filing:
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