01:41 PM EDT, 07/25/2024 (MT Newswires) -- ChoiceOne Financial Services ( COFS ) said Thursday it has priced its underwritten public offering of 1.2 million shares at $25 per share, compared with its closing price of $29.76 in the previous day.

ChoiceOne said it expects to raise about $30 million from the offering for general corporate purposes.

It expects to close the offering Friday, with D.A. Davison as its book-running manager. Underwriters have been granted a 30-day option to buy up to an additional 180,000 shares.

Shares of the company fell more than 11% in recent trading.

Price: 26.38, Change: -3.38, Percent Change: -11.36