India, June 3 -- Orange County Bancorp Inc. (OBT), parent company of Orange Bank & Trust Company, and Hudson Valley Investment Advisors, Inc., announced the pricing of an underwritten public offering of about 1.72 million shares of its common stock at a price of $23.25 per share. The Company also granted the underwriters a 30-day option to purchase up to an additional 258,064 shares of common stock.
The company expects the aggregate gross proceeds from the offering to be approximately $40.0 million before discounts and expenses.
Assuming full exercise by the underwriters of their option to purchase additional shares, the aggregate gross proceeds of the offering would be approximately $46.0 million before discounts and expenses.
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