Rhinebeck Bancorp Conversion Oversubscribed; Sets July 21 Close, 1.3978 Exchange Ratio

summarizeSummary

Rhinebeck Bancorp's mutual-to-stock conversion subscription was oversubscribed, locking in a 1.3978 exchange ratio and 15.6 million shares outstanding. The offering closes July 21, with new shares trading July 22.

check_boxKey Events · Financing and Capital Events · RBKB

• Subscription Oversubscribed

  Eligible depositors in the first tier placed valid orders that exceeded the maximum of the offering range, resulting in an oversubscribed subscription. Consequently, no shares will be allocated to other priority groups.

• Exchange Ratio Set at 1.3978

  For each existing share, holders will receive 1.3978 shares of new common stock, with cash paid for fractional shares at $10.00 per share.

• Post-Transaction Shares: 15.6 Million

  Following the offering and exchange, Rhinebeck Bancorp will have 15,638,237 shares outstanding, subject to fractional share adjustments.

• Closing July 21, Trading July 22

  The conversion and offering are expected to close on July 21, 2026. Newly issued and exchanged shares will begin trading on Nasdaq under 'RBKB' on July 22, 2026.

auto_awesomeAnalysis · RBKB · Finance

Strong demand from eligible depositors drove the subscription offering for Rhinebeck Bancorp's second-step conversion well past the maximum range, meaning no shares will flow to other priority groups. With the exchange ratio now fixed at 1.3978 new shares for each existing share, the post-transaction share count lands at 15.6 million. The conversion is set to close on July 21, and the new shares will begin trading the following day. While the oversubscription highlights robust depositor interest, the offering remains highly dilutive at $10.00 per share—a deep discount to the current $17.07 price—and will significantly expand the share base.