BERRYVILLE, Va., Feb. 13,
2025 /PRNewswire/ -- Eagle Financial Services, Inc.
(Nasdaq: EFSI) (the "Company"), parent company of Bank of
Clarke, today announced that the
underwriters for its recently completed public offering have
exercised their overallotment option and completed the sale of an
additional 234,375 shares of common stock at the public offering
price of $32.00 per share. The
expected proceeds to the Company in connection with the exercise of
the option and the issuance of the additional shares, after
deducting the underwriting discount and commissions but before
deducting operating expenses payable by the Company, are
approximately $7.1 million. The
Company's common stock trades on the Nasdaq Capital Market under
the ticker symbol "EFSI."
Keefe, Bruyette & Woods, A Stifel
Company served as the sole bookrunner for the offering,
and D.A. Davidson & Co. acted as the lead manager.
Additional Information Regarding the Offering
The offering of common stock was made pursuant to a registration
statement on Form S-3 (File No. 333-269804) that was declared
effective by the Securities and Exchange Commission (the "SEC") on
February 28, 2023. A final prospectus
supplement dated February 6, 2025 and
accompanying prospectus dated February 28,
2023, which form part of the registration statement, have
been filed with the SEC. Prospective investors should read the
final prospectus supplement and the accompanying prospectus and
other documents the Company has filed with the SEC for more
complete information about the Company and the offering. Copies of
these documents are available at no charge by visiting the SEC's
website at www.sec.gov. Copies of the final prospectus
supplement and accompanying prospectus related to the offering may
be obtained by contacting Keefe, Bruyette & Woods, A Stifel
Company by telephone at (800) 966-1559 or by e-mail at
USCapitalMarkets@kbw.com.
No Offer or Solicitation
This press release does not constitute an offer to sell, a
solicitation of an offer to sell, or the solicitation of an offer
to buy any securities. There will be no sale of securities in any
jurisdiction in which such an offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such jurisdiction.
About Eagle Financial Services, Inc.
Eagle Financial Services, Inc. (Nasdaq CM: EFSI) (the "Company")
is a bank holding company that was incorporated in 1991. The
Company is headquartered in Berryville,
Virginia and conducts its operations through its subsidiary,
Bank of Clarke, which is chartered
under Virginia law. The Bank
of Clarke offers a broad range of
commercial banking, retail banking and trust and investment
services through its thirteen full-service branches, two loan
production offices, one wealth management office and one
drive-through only facility located throughout Clarke and Frederick Counties, as well as the
City of Winchester, towns of
Purcellville and Leesburg and Ashburn, Virginia.
Special Note Concerning Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. These forward-looking statements represent plans, estimates,
objectives, goals, guidelines, expectations, intentions,
projections, and statements of the Company's beliefs concerning
future events, business plans, objectives, expected operating
results, and the assumptions upon which those statements are based.
Forward-looking statements include without limitation, any
statement that may predict, forecast, indicate, or imply future
results, performance, or achievements, and are typically identified
with words such as "may," "could," "should," "will," "would,"
"believe," "anticipate," "estimate," "expect," "aim," "intend,"
"plan" or words or phases of similar meaning. The Company cautions
that the forward-looking statements are based largely on the
Company's expectations and are subject to a number of known and
unknown risks and uncertainties that are subject to change based on
factors which are, in many instances, beyond the Company's control.
Such forward-looking statements are based on various assumptions
(some of which may be beyond the Company's control) and are subject
to risks and uncertainties, which change over time, and other
factors, which could cause actual results to differ materially from
those currently anticipated. New risks and uncertainties may emerge
from time to time, and it is not possible for the Company to
predict their occurrence or how they will affect the Company. If
one or more of the factors affecting the Company's forward-looking
information and statements proves incorrect, then the Company's
actual results, performance, or achievements could differ
materially from those expressed in, or implied by, forward-looking
information and statements contained in this press release.
Therefore, the Company cautions you not to place undue reliance on
the Company's forward-looking information and statements. Important
factors that could cause actual results to differ materially from
those in the forward-looking statements are set forth in the
Company's Annual Report on Form 10-K for the year ended
December 31, 2023 under the section
entitled "Risk Factors," and other documents filed by the Company
with the SEC from time to time.
The Company disclaims any duty to revise or update the
forward-looking statements, whether written or oral, to reflect
actual results or changes in the factors affecting the
forward-looking statements, except as specifically required by
law.
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SOURCE Eagle Financial Services, Inc.
