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Pennsylvania-based Riverview Financial closes $17M private placement

Riverview Financial Corp. completed its sale of common and preferred equity for net proceeds of approximately $17.0 million, before expenses.

The Harrisburg, Pa.-based company sold 269,885 common shares and 1,348,809 shares of convertible, perpetual preferred stock at $10.50 per share, through a private placement.

Riverview intends to use proceeds for general corporate purposes, including strategic acquisitions if opportunities arise.

Barley Snyder LLP advised the company. Ambassador Financial Group Inc. served as sole placement agent and was advised by Luse Gorman PC.