05:52 AM EST, 11/08/2024 (MT Newswires) -- Valley National Bancorp ( VLY ) priced a public offering of 42.8 million common shares at $9.35 per share for a total of $400 million in expected gross proceeds, the bank said late Thursday.

The underwriters have been an overallotment option of up to 6.4 million shares.

Net proceeds will be used for general corporate purposes and for investments in the company's banking subsidiary, the company said.

The offering is expected close on by Nov. 12.