Rhinebeck Bancorp wraps up second-step conversion, placing 8.88M shares at $10.00
RBKB sits 86% above its 52-week low of $9.41.
Summary
Rhinebeck Bancorp closed its second-step conversion, selling 8.88 million shares at $10.00 and raising ~$88.8 million. After a 1.3978 exchange ratio, total shares outstanding stand at 15.64 million.
Key Events · Financing and Capital Events · RBKB
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Conversion and Offering Closed
The second-step conversion from a mutual holding company to a fully public structure is final, with 8,880,210 shares sold at $10.00 per share.
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Dilution Impact
At $10.00, the offering price sits 43% below the current $17.50 stock price, and the 1.3978 exchange ratio swells total shares outstanding to 15,638,237, diluting existing public shareholders.
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Proceeds Raised
Gross proceeds of approximately $88.8 million will bolster the company's capital base following the conversion.
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Exchange Ratio Finalized
As announced on July 17, 2026, each pre-conversion public share was exchanged for 1.3978 new shares, a ratio locked in by the oversubscribed subscription offering.
Analysis · RBKB · Finance
The mutual-to-stock conversion is now complete, with 8.88 million shares sold at $10.00 apiece—a steep markdown from the current $17.50 price. While the offering pulled in roughly $88.8 million, existing public shareholders absorbed dilution as the 1.3978 exchange ratio pushed total shares outstanding to 15.64 million. Trading near its 52-week high may signal post-conversion appetite, but the dilutive sting of selling shares so far below market value is hard to ignore.
How filings like this one have moved
In the 30 days to Oct 3, 2026, 36.5% of the 1051 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.60%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, RBKB was trading at $17.50 on NASDAQ in the Finance sector, with a market capitalization of approximately $197.2M. The 52-week trading range was $9.41 to $17.99. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.