Deal conducted in connection with bank’s conversion to stock issuer
By Devika Patel
Knoxville, Tenn., April 20 – MSB Financial Corp. priced a public offering of stock to raise between $23.23 million and $32.78 million with a $4.91 million greenshoe, according to a Form S-1 filed Monday with the Securities and Exchange Commission. The company has registered up to $62.67 million of stock.
The offering is being conducted in connection with the conversion of MSB Financial, MHC from the mutual to the stock form of organization.
The company will sell between 2,422,500 and 3,277,500 common shares at $10.00 apiece on a best efforts basis. The price per share is an 11.89% discount to the April 17 closing share price of $11.35.
Shares that are not purchased in the subscription offering may be offered for sale to the general public in a community offering.
Investors must order a minimum of 25 shares.
Keefe, Bruyette & Woods, Inc. is the bookrunner.
Proceeds will be used to invest in securities.
The holding company for MSB Financial, MHC is based in Millington, N.J.
| Issuer: | MSB Financial Corp.
|
| Issue: | Common stock
|
| Amount: | $23,225,000 (minimum), $32,775,000 (maximum)
|
| Greenshoe: | $4,916,250
|
| Shares: | 2,422,500 (minimum), 3,277,500 (maximum)
|
| Price: | $10.00
|
| Warrants: | No
|
| Agent: | Keefe, Bruyette & Woods, Inc.
|
| Pricing date: | April 20
|
| Stock exchange: | Nasdaq: MSBF
|
| Stock price: | $11.35 at close April 17
|
| Market capitalization: | $56.14 million
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
