Hanover Bancorp prices IPO at $21.00/share, raises $26.8M gross; closes on May 13

Hanover Bancorp, Inc. /MD

Priced 1,275,000 shares of common stock at $21.00 per share; gross proceeds ~$26.8 million.
Net proceeds after underwriting discount and expenses expected to be ~$24.0 million.
Underwriters granted a 30-day overallotment option to purchase up to 191,250 additional shares.
Shares began trading on Nasdaq on May 11, 2022 under the symbol HNVR.
Joint book-running managers: Stephens Inc. and Piper Sandler & Co.

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