Keefe, Bruyette & Woods is agent; deal funds short-term investments
By Devika Patel
Knoxville, Tenn., Aug. 17 - Meetinghouse Bancorp, Inc. priced a public offering of stock to raise between $4.25 million and $5.75 million, according to a prospectus supplement filed Friday with the Securities and Exchange Commission.
The offering is being conducted in connection with the conversion of Meetinghouse to a stock holding company.
The company will sell between 425,000 and 575,000 common shares at $10.00 apiece. The minimum order is 25 shares.
Keefe, Bruyette & Woods, Inc. is conducting the sale on a best-efforts basis. Insiders may participate for 20.8% of the offering.
Settlement is expected Oct. 1.
The company plans to invest the proceeds in short-term, liquid investments, such as U.S. treasury and government agency securities, mortgage-backed securities and cash and cash equivalents.
Based in Dorchester, Mass., Meetinghouse, through a subsidiary bank, accepts deposits and offers cooperative banking services.
Issuer: | Meetinghouse Bancorp, Inc.
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Issue: | Common stock
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Amount: | $4.25 million (minimum), $5.75 million (maximum)
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Shares: | 425,000 (minimum), 575,000 (maximum)
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Price: | $10.00
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Warrants: | No
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Agent: | Keefe, Bruyette & Woods, Inc.
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Pricing date: | Aug. 17
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Settlement date: | Oct. 1
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