Sussex Bancorp intends to conduct rights offering of its common stock

American Stock Transfer and Trust offers rights for 1,198,300 shares

By Devika Patel

Knoxville, Tenn., April 5 - Sussex Bancorp plans to price a rights offering, according to an S-1 filed Friday with the Securities and Exchange Commission.

Shareholders will receive rights to purchase up to 1,198,300 common shares. Each subscription right will entitle the holder to purchase 0.35 common shares at a price to be determined.

American Stock Transfer and Trust Co. is the agent.

Proceeds will be used for general corporate purposes, including future growth such as expansion through acquisitions or branching, infrastructure growth or lines of business expansion or the resolution of problem assets.

The bank holding company is based in Franklin, N.J.

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