Rhinebeck Bancorp reported an oversubscribed depositor subscription offering and expects to close its mutual-to-stock conversion on July 21, 2026.
Key Highlights:
- Subscription offering expired June 18, 2026 and was oversubscribed in the first tier by eligible depositors.
- Allocations will follow prospectus priorities; no other priority group will have orders filled.
- Existing public shareholders will receive 1.3978 new shares for each existing share; fractional shares paid $10.00 each.
- Company expects 15,638,237 shares outstanding after the conversion and offering, subject to fractional adjustments.
- Anticipated closing date is July 21, 2026; new and exchanged shares to trade under RBKB beginning July 22, 2026.
Original SEC Filing:
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