Deal conducted in connection with bank's conversion to stock issuer
By Devika Patel
Knoxville, Tenn., Feb. 21 - Westbury Bancorp, Inc. priced a $44.28 million initial public offering of stock in a prospectus filed Thursday with the Securities and Exchange Commission. The offering is being conducted in connection with the conversion of Westbury Bancorp from the mutual to the stock form of organization.
The company will sell 4,427,500 common shares at $10.00 apiece on a best efforts basis. Shares that are not purchased in the subscription offering may be offered for sale to the general public in a "community offering."
The deal will be conducted by Keefe, Bruyette & Woods, Inc.
Proceeds will be used for investments, to pay cash dividends, to repurchase common shares and for other general corporate purposes.
The savings bank is based in West Bend, Wis. The company expects that its stock will be listed on the Nasdaq exchange under the symbol "WBB."
| Issuer: | Westbury Bancorp, Inc.
|
| Issue: | Common stock
|
| Amount: | $44,275,000
|
| Shares: | 4,427,500
|
| Price: | $10.00
|
| Warrants: | No
|
| Agent: | Keefe, Bruyette & Woods, Inc.
|
| Pricing date: | Feb. 21
|
| Stock symbol: | Nasdaq: WBB
|
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