Colony Bankcorp raises ~$59.3M in public offering of 3.85M shares at $16.50

COLONY BANKCORP INC

Sold 3,848,485 shares including full exercise of underwriter option at $16.50/share.
Net proceeds of approximately $59.3 million after underwriting discounts and expenses.
Underwriting agreement with Hovde Group, LLC as representative of the underwriters.
Directors and executive officers subject to a 90-day lock-up on share sales.
Offering registered under effective shelf registration statement (File No. 333-260498).

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