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Provider: Reuters Investment Profile

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Meetinghouse Bancorp Inc Completes Initial Public Offering

Monday, 19 Nov 2012 04:05pm EST 

Meetinghouse Bancorp Inc announced that effective it has completed its initial public offering in connection with the Bank`s mutual-to-stock conversion transaction. The shares of the Company`s common stock are scheduled to be quoted on the OTC Bulletin Board under the symbol MTGB beginning November 20, 2012. Stock certificates will be mailed on or about November 19, 2012. The Company sold a total of 661,250 shares of common stock at a purchase price of $10.00 per share in the subscription offering, of which 27,700 shares were purchased by the Bank`s employee stock ownership plan (the ESOP). The ESOP was eligible to purchase up to 46,287 shares but was unable to do so because of the volume of subscription orders submitted by the Bank`s eligible account holders and supplemental eligible account holders, each of whom were accorded higher priority subscription rights than the ESOP. The ESOP intends to acquire up to an additional 18,587 shares in the open market subject to market conditions. The subscription offering was managed by Keefe, Bruyette, & Woods, Inc. Kilpatrick Townsend & Stockton LLP acted as special legal counsel to both the Company and the Bank. 

Company Quote

22 Oct 2014