LINKBANCORP in Harrisburg, Pa., plans to raise up to $50 million through an initial public offering.
The $1.1 billion-asset company said in a press release Wednesday that it plans to sell about 4.6 million shares of common stock at $8 to $9.50 each. The underwriters can sell another 686,000 shares if there is enough demand.
The stock is expected to trade on the Nasdaq under the symbol “LNKB.”
LINKBANCORP said it could use the proceeds to provide capital to its bank to support expanded lending and strategic acquisitions, among other things. The company has no immediate plans for an acquisition.
Stephens and Piper Sandler are the joint book-running managers. D.A. Davidson is co-manager.