IPO - UNION BANKSHARES INC

Form Type: 8-K

Filing Date: 2025-05-20

Corporate Action: Ipo

Type: New

Accession Number: 000070686325000064

Filing Summary: On May 20, 2025, Union Bankshares, Inc. entered into an Equity Distribution Agreement with Piper Sandler & Co. This agreement allows the company to sell up to $40,000,000 in shares of its common stock through at-the-market offerings. The sales may be made at prices determined by the company, and the company will pay a 3% commission on the gross sales. The funds raised will be used for general corporate purposes, including capital contributions to Union Bank, repayment of debt, and financing acquisitions. The common stock offered will come from a shelf registration statement filed with the SEC earlier in 2025. The company may suspend or terminate the offering at any time. Legal opinions regarding the shares being sold are included as part of the filing, along with customary indemnification provisions.