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Civista Bancshares, Inc. Announces Pricing of Public Offering of Common Shares

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Civista Bancshares (NASDAQ: CIVB) has announced the pricing of its underwritten public offering of 3,294,120 common shares at $21.25 per share, totaling an aggregate offering amount of $70.0 million. The company has also granted underwriters a 30-day option to purchase up to 494,118 additional shares, which could increase the total gross proceeds to approximately $80.5 million.

The offering, expected to close on July 14, 2025, will be managed by Piper Sandler & Co. as the sole book-running manager, with several co-managers. Civista plans to use the net proceeds for general corporate purposes, including supporting organic growth opportunities and potential future strategic transactions.

Civista Bancshares (NASDAQ: CIVB) ha annunciato il prezzo della sua offerta pubblica garantita di 3.294.120 azioni ordinarie a 21,25 dollari per azione, per un ammontare complessivo di 70,0 milioni di dollari. La società ha inoltre concesso agli underwriter un'opzione di 30 giorni per acquistare fino a 494.118 azioni aggiuntive, che potrebbe portare i proventi lordi totali a circa 80,5 milioni di dollari.

L'offerta, che si prevede si concluda il 14 luglio 2025, sarà gestita da Piper Sandler & Co. come unico bookrunner, con la collaborazione di diversi co-manager. Civista intende utilizzare i proventi netti per scopi aziendali generali, inclusi il supporto alla crescita organica e potenziali future operazioni strategiche.

Civista Bancshares (NASDAQ: CIVB) ha anunciado el precio de su oferta pública garantizada de 3,294,120 acciones comunes a 21.25 dólares por acción, alcanzando un monto total de 70.0 millones de dólares. La compañía también ha otorgado a los suscriptores una opción de 30 días para comprar hasta 494,118 acciones adicionales, lo que podría aumentar los ingresos brutos totales a aproximadamente 80.5 millones de dólares.

Se espera que la oferta cierre el 14 de julio de 2025, y será gestionada por Piper Sandler & Co. como único administrador del libro, con varios co-administradores. Civista planea utilizar los ingresos netos para fines corporativos generales, incluyendo apoyar oportunidades de crecimiento orgánico y posibles futuras transacciones estratégicas.

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ì´ë²ˆ 공모µç� 2025ë…� 7ì›� 14ì�ì—� 마ê°ë� 예정ì´ë©°, Piper Sandler & Co.ê°€ ë‹¨ë… ì£¼ê´€ì‚¬ë¡œì„� 여러 ê³µë™ ì£¼ê´€ì‚¬ì™€ 함께 관리합니다. Civistaµç� 순수ìµì„ ì¼ë°˜ 기업 목ì , 유기ì � 성장 기회 ì§€ì›� ë°� 잠재ì ì¸ 미래 ì „ëžµì � 거래ì—� 사용í•� 계íšìž…니ë‹�.

Civista Bancshares (NASDAQ: CIVB) a annoncé le prix de son offre publique souscrite de 3 294 120 actions ordinaires à 21,25 $ par action, pour un montant total de 70,0 millions de dollars. La société a également accordé aux souscripteurs une option de 30 jours pour acheter jusqu'à 494 118 actions supplémentaires, ce qui pourrait porter le produit brut total à environ 80,5 millions de dollars.

L'offre, dont la clôture est prévue le 14 juillet 2025, sera gérée par Piper Sandler & Co. en tant que seul chef de file, avec plusieurs co-chefs de file. Civista prévoit d'utiliser le produit net à des fins générales d'entreprise, y compris pour soutenir les opportunités de croissance organique et d'éventuelles transactions stratégiques futures.

Civista Bancshares (NASDAQ: CIVB) hat den Preis für sein unterzeichnetes öffentliches Angebot von 3.294.120 Stammaktien zu je 21,25 USD bekannt gegeben, was einem Gesamtangebot von 70,0 Millionen USD entspricht. Das Unternehmen hat den Underwritern außerdem eine 30-tägige Option eingeräumt, bis zu 494.118 zusätzliche Aktien zu kaufen, wodurch der Bruttoerlös auf etwa 80,5 Millionen USD steigen könnte.

Das Angebot, das voraussichtlich am 14. Juli 2025 abgeschlossen wird, wird von Piper Sandler & Co. als alleinigem Bookrunner mit mehreren Co-Managern betreut. Civista plant, die Nettoerlöse für allgemeine Unternehmenszwecke zu verwenden, einschließlich der Unterstützung organischer Wachstumschancen und potenzieller zukünftiger strategischer Transaktionen.

Positive
  • Potential for organic growth and strategic transactions with new capital
  • Significant capital raise of $70.0 million with potential to reach $80.5 million
Negative
  • Potential dilution for existing shareholders
  • Share offering may put downward pressure on stock price

Insights

Civista raises $70M through share offering, diluting existing shareholders while building capital for growth and potential acquisitions.

Civista Bancshares has priced a $70 million public offering of 3,294,120 common shares at $21.25 per share, with potential to increase to $80.5 million if underwriters exercise their additional purchase option. This capital raise represents a significant move for the regional bank, likely diluting existing shareholders by approximately 15-17% based on their current market capitalization.

The timing of this offering is notable as it comes during a period when many regional banks are strengthening their capital positions amid industry challenges. By specifying that proceeds will support "organic growth opportunities and future strategic transactions," Civista is signaling potential expansion plans that could include branch growth, lending capacity increases, or even acquisitions in their Midwest footprint.

The involvement of six investment banks in the offering, led by Piper Sandler, suggests strong institutional interest. The pricing appears to represent a slight discount to recent trading levels, which is typical for secondary offerings to ensure full subscription. For existing shareholders, while immediate dilution is a negative, the enhanced capital position provides Civista with greater financial flexibility and a strengthened balance sheet that could drive longer-term growth opportunities in their regional banking market.

SANDUSKY, Ohio, July 10, 2025 /PRNewswire/ -- Civista Bancshares, Inc. (NASDAQ: CIVB) ("Civista"), parent company of Civista Bank, today announced the pricing of an underwritten public offering of 3,294,120 common shares at a price of $21.25 per share, for an aggregate offering amount of $70.0 million. Civista also granted the underwriters a 30-day option to purchase up to an additional 494,118 common shares.

The aggregate gross proceeds of the offering will be approximately $70.0 million before discounts and expenses. Assuming full exercise by the underwriters of their option to purchase additional common shares, the aggregate gross proceeds of the offering would be approximately $80.5 million before discounts and expenses. Civista plans to use the net proceeds from the offering for general corporate purposes, which may include supporting organic growth opportunities and future strategic transactions. The offering is expected to close on July 14, 2025, subject to customary closing conditions.

Piper Sandler & Co. is serving as the sole book-running manager. D.A. Davidson & Co., Hovde Group, LLC, Janney Montgomery Scott LLC, Keefe, Bruyette & Woods, A Stifel Company, and Stephens Inc. are serving as co-managers in the offering.

Civista has filed with the Securities and Exchange Commission (the "SEC") a shelf registration statement (including a prospectus) on Form S-3 (File No. 333-282560) and a preliminary prospectus supplement dated July 10, 2025 for the offering of its common shares to which this press release relates, and Civista will file a final prospectus supplement relating to the common shares. Before you invest, you should read the preliminary prospectus supplement and the accompanying prospectus, including the information incorporated by reference therein, and the other documents Civista has filed and will file with the SEC for more complete information about Civista and the offering. The offering will be made only by means of the prospectus supplement and accompanying prospectus that forms a part of the registration statement, copies of which may be obtained for free by visiting EDGAR on the SEC's website at , or by request from Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, Minnesota 55402, or by phone at 1-800-747-3924, or by email at [email protected].

This press release is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended.  The securities being offered have not been approved or disapproved by any regulatory authority, nor has any such authority passed upon the accuracy or adequacy of the prospectus supplement or the shelf registration statement or prospectus relating thereto.

 About Civista Bancshares, Inc.

Civista Bancshares, Inc. is a $4.1 billion financial services holding company headquartered in Sandusky, Ohio. Its primary subsidiary, Civista Bank, was founded in 1884 and provides full-service banking, commercial lending, mortgage, wealth management, and commercial equipment leasing services. Today, Civista Bank operates 42 locations across Ohio, Southeastern Indiana, and Northern Kentucky. Civista's common shares are traded on the NASDAQ Capital Market under the symbol "CIVB".

Forward Looking Statements

This press release may contain forward-looking statements within the meaning of the federal securities laws.  For these statements, Civista claims the protections of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.   Statements in this press release should be considered in conjunction with the other information available about Civista, including the information in the filings Civista makes with the SEC. Forward-looking statements provide current expectations or forecasts of future events and are not guarantees of future performance.  These forward-looking statements are based on management's expectations and are subject to a number of risks and uncertainties.  We have tried, wherever possible, to identify such statements by using words such as "anticipate," "estimate," "project," "intend," "plan," "believe," "will" and similar expressions. Although management believes that the expectations reflected in such forward-looking statements are reasonable, actual results may differ materially from those expressed or implied in such statements.  Risks and uncertainties that could cause actual results to differ materially include risk factors relating to the banking industry and the other factors detailed from time to time in the reports Civista files with the SEC, including those described in "Item 1A Risk Factors" of Part I of Civista's Annual Report on Form 10-K for the fiscal year ended December 31, 2024, in "Item 1A. Risk Factors" of Part II of the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, and any additional risks identified in Civista's subsequent Forms 10-Q.  Undue reliance should not be placed on the forward-looking statements, which speak only as of the date hereof.  Civista does not undertake, and specifically disclaims any obligation, to update any forward-looking statement to reflect the events or circumstances after the date on which the forward-looking statement is made, or reflect the occurrence of unanticipated events, except to the extent required by law.

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SOURCE Civista Bancshares, Inc.

FAQ

What is the price per share for Civista Bancshares (CIVB) public offering?

Civista Bancshares has priced its public offering at $21.25 per share.

How many shares is CIVB offering in its July 2025 public offering?

Civista is offering 3,294,120 common shares, with an option for underwriters to purchase up to an additional 494,118 shares.

What is the total value of Civista Bancshares' 2025 public offering?

The aggregate offering amount is $70.0 million, which could increase to $80.5 million if the underwriters exercise their full option to purchase additional shares.

How will CIVB use the proceeds from its public offering?

Civista plans to use the net proceeds for general corporate purposes, including supporting organic growth opportunities and future strategic transactions.

When will Civista Bancshares' public offering close?

The offering is expected to close on July 14, 2025, subject to customary closing conditions.
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Banks - Regional
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United States
SANDUSKY