Mid Penn Bancorp, Inc. Announces Closing of Public Offering of Common Stock

Mid Penn Bancorp, Inc. (“Mid Penn” or the “Company”) (NASDAQ: MPB), the parent company of Mid Penn Bank, announced today that it has completed its underwritten public offering of 2,375,000 shares of common stock at a price of $29.50 per share. The aggregate gross proceeds of the offering were $70 million. The net proceeds of the offering after deducting the underwriting discount and other estimated offering expenses are expected to be approximately $67 million. The Company intends to use the net proceeds of the offering to support its continued growth, including investments in Mid Penn Bank to support organic growth, potential redemption of subordinated debt, future strategic transactions, and general corporate purposes.

Stephens Inc. acted as lead book-running manager for the offering, and Piper Sandler & Co. acted as joint book-running manager for the offering. Mid Penn was represented by Pillar + Aught. The underwriters were represented by Holland & Knight LLP.

On November 4, 2024, the underwriters also notified the Company of their determination to exercise their option to purchase up to an additional 356,250 shares of the Company’s common stock, in full, at the public offering price less underwriting discounts and commissions, which is expected to close on November 5, 2024.

The offering was made by means of an effective shelf registration statement, including a preliminary prospectus supplement and final prospectus supplement, copies of which may be obtained by contacting Stephens Inc., 111 Center Street, Little Rock, Arkansas 72201, Attention: Syndicate, or by calling toll free by telephone at [phone] or by email at [e-mail]; or Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, or by telephone: [phone] or by email: [e-mail].

This announcement is for informational purposes only and is not an offer to sell or the solicitation of an offer to buy any securities of the Company, which is made only by means of a prospectus supplement and related base prospectus, nor will there be any sale of these securities in any state 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.