10:13 AM EST, 11/12/2024 (MT Newswires) -- Dime Community Bancshares ( DCOM ) said Tuesday it priced an offering of 3.9 million common shares at $32 apiece for gross proceeds of $125 million.

The company granted underwriters to buy up to an additional 585,937 shares at the offering price. The offering is expected to close on or about Wednesday.

The company said net proceeds from the offering will be used for general corporate purposes to support continued organic growth, including working capital, investments in its bank subsidiary, and potential balance sheet optimization strategies.

Shares of the company were down 2.1% in recent trading.

Price: 33.70, Change: -0.73, Percent Change: -2.13