04:25 PM EDT, 06/28/2024 (MT Newswires) -- Dime Community Bancshares ( DCOM ) said late Friday it completed its public offering and sale of $65 million of 9% fixed-to-floating rate subordinated notes due 2034.

The notes were sold at par, resulting in net proceeds of about $62.7 million, the company said.

Underwriters were given a 30-day option to buy up to an additional $9.8 million of the notes to cover overallotments. If the underwriters exercise their overallotment option in full, the gross proceeds will be roughly $74.8 million and the net proceeds will be about $72.1 million, the company said.

Net proceeds are for general corporate purposes.

The notes are expected to be listed on Nasdaq within 30 days of the original issue date under the ticker DCOMG, Dime said.