Dime Community prices 3.9M shares at $32.00 in public offering

Dime Community (DCOM) Bancshares announced the pricing of a public offering of 3,906,250 shares of its common stock, $0.01 par value, at a public offering price of $32.00 per share, for aggregate gross proceeds of $125 million. In addition, the Company has granted the underwriters a 30-day option to purchase up to an additional 585,937 shares of Common Stock at the public offering price, less underwriting discounts and commissions. The Company expects to close the offering, subject to customary conditions, on or about November 13, 2024. Dime expects to use the net proceeds from this offering for general corporate purposes to support its continued organic growth, which may include, among other things, working capital, investments in its bank subsidiary, and potential balance sheet optimization strategies. Raymond James & Associates, Inc. and Keefe, Bruyette & Woods, Inc., A Stifel Company are acting as joint book-running managers for the offering. Luse Gorman, PC is serving as legal counsel to the joint book-running managers. Squire Patton Boggs LLP is serving as legal counsel to Dime.