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BV Financial, Inc. Announces Commencement of Stock Offering
BALTIMORE, MD / ACCESSWIRE / May 22, 2023 / BV Financial, Inc. (the "Company") (OTC Pink:BVFL), the holding company for BayVanguard Bank (the "Bank"),
About this update from Bv Financial, Inc.
[{"type":"text","content":"BALTIMORE, MD / ACCESSWIRE / May 22, 2023 / BV Financial, Inc. (the \"Company\") (OTC Pink:BVFL), the holding company for BayVanguard Bank (the \"Bank\"), announced today that it is commencing its stock offering in connection with the proposed conversion of Bay-Vanguard, M.H.C., Inc. (the \"MHC\") from the mutual holding company structure to the fully stock holding company form of organization.The Company is offering for sale up to 13,225,000 shares, subject to increase to up to 15,208,750 shares, of common stock at a purchase price of $10.00 per share. The shares will be offered in a subscription offering to certain depositors of the Bank and to the Bank's employee stock ownership plan. Shares of common stock that are not subscribed for in the subscription offering may be offered for sale to members of the general public in a community offering, with preference given to residents of Baltimore City and Anne Arundel, Baltimore, Dorchester, Harford and Talbot Counties, Maryland.The Company's common stock is expected to be listed on the Nasdaq Capital Market under the symbol \"BVFL\" upon the completion of the conversion.The subscription and community offerings are being managed by Performance Trust Capital Partners, LLC. All questions concerning the offering or requests for offering materials should be directed to the Stock Information Center at (443) 637-6212. The Stock Information Center, located at 125 Mountain Road, Pasadena, Maryland, will be open Monday through Friday from 9:00 a.m. and 4:30 p.m., Eastern Time, beginning May 22, 2023, through June 21, 2023, the scheduled expiration date of the subscription offering. The Stock Information Center will be closed on bank holidays.Eligible depositors and others may be able to subscribe for shares of common stock using funds in an individual retirement account (\"IRA\") or other retirement account if the account is maintained by an independent custodian or trustee, such as a brokerage firm, and not the Bank. Those interested in using funds held in an IRA at the Bank must transfer such funds that they wish to use for the purchase of the Company's common stock to an independent trustee or custodian that offers the type of retirement accounts that can hold common stock. The Company recommends that anyone wishing to use funds in an IRA or other retirement account to purchase shares in...