Dime Community Bancshares, Inc. Announces Full Exercise of Underwriters’ Overallotment Option
2024年7月10日 - 7:38AM
Dime Community Bancshares, Inc. (the “Company”) (NASDAQ: “DCOM”),
the parent company of Dime Community Bank (the “Bank”), today
announced that in connection with its previously disclosed public
offering of its 9.000% Fixed-to-Floating Rate Subordinated Notes
due 2034 (the “Notes”) that closed on June 28, 2024, the
underwriters of such offering have exercised their overallotment
option in full to purchase an additional $9,750,000 aggregate
principal amount of Notes. The additional Notes were issued in a
closing on July 9, 2024, bringing the total gross proceeds from the
offering to $74,750,000, before discounts and estimated offering
expenses.
Raymond James & Associates, Inc. and Keefe,
Bruyette & Woods, A Stifel Company acted as joint book-running
managers for the Offering. D.A. Davidson & Co. and Piper
Sandler acted as co-managers for the offering. Squire Patton Boggs
(US) LLP acted as legal counsel to the Company and Luse Gorman, PC
acted as legal counsel to the underwriters.
The Notes are listed on the Nasdaq Stock Market®
under the trading symbol “DCOMG”.
The Company intends to use the net proceeds of the
offering for general corporate purposes, including supporting
organic growth initiatives, and to support the Company and Bank’s
regulatory capital ratios. The Notes are intended to qualify as
Tier 2 capital for regulatory purposes.
This press release is neither an offer to sell nor
a solicitation of an offer to purchase any securities of the
Company. There will be no sale of securities in any jurisdiction in
which such an offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any
such jurisdiction. The Notes were offered under the Company’s
existing shelf registration statement filed with the Securities and
Exchange Commission.
About the Company
Dime Community Bancshares, Inc. is the holding
company for Dime Community Bank, a New York State-chartered trust
company with over $13.5 billion in assets and the number one
deposit market share among community banks on Greater Long
Island(1).
(1) Aggregate deposit market share for Kings,
Queens, Nassau & Suffolk counties for community banks less than
$20 billion in assets.
Forward-Looking Statements
This news release contains a number of
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended and Section 21E of the
Securities Exchange Act of 1934, as amended (the “Exchange Act”),
including the expected use of proceeds from the Notes offering.
Forward-looking statements are based upon various assumptions and
analyses made by the Company in light of management’s experience
and its perception of historical trends, current conditions and
expected future developments, as well as other factors it believes
are appropriate under the circumstances. These statements are not
guarantees of future performance and are subject to risks,
uncertainties, and other factors (many of which are beyond the
Company’s control) that could cause actual conditions or results to
differ materially from those expressed or implied by such
forward-looking statements. Accordingly, you should not place undue
reliance on such statements. For discussion of risks and
uncertainties that may cause actual results to differ from
expectations, please refer to the sections entitled
“Forward-Looking Statements” and “Risk Factors” in the Company’s
most recent Annual Report on Form 10-K and subsequent updates set
forth in the Company’s Quarterly Reports on Form 10-Q and Current
Reports on Form 8-K.
Dime Community Bancshares,
Inc.Investor Relations Contact:Avinash ReddySenior
Executive Vice President — Chief Financial OfficerPhone:
718-782-6200; Ext. 5909Email: avinash.reddy@dime.com
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