Business
BV Financial, Inc. Announces Completion of the Community Offering
BALTIMORE, MD / ACCESSWIRE / July 18, 2023 / BV Financial, Inc. (the "Company") (OTC PINK:BVFL), the holding company for BayVanguard Bank, announced today
About this update from Bv Financial, Inc.
[{"type":"text","content":"BALTIMORE, MD / ACCESSWIRE / July 18, 2023 / BV Financial, Inc. (the \"Company\") (OTC PINK:BVFL), the holding company for BayVanguard Bank, announced today that that the community offering in connection with the conversion of Bay-Vanguard, M.H.C., Inc. from mutual to stock form was completed today in accordance with the terms of the Company's prospectus dated May 15, 2023, as supplemented by a prospectus supplement dated June 23, 2023.Orders for $97,989,800 (9,798,980 shares) of the Company's common stock were received in the subscription offering and community offering. Subject to regulatory approval, the Company intends to close the offering at this amount, which is slightly above the minimum of the offering range (9,775,000 shares).The closing of the offering and conversion remains subject to customary regulatory approvals and the satisfaction of customary closing conditions. Final results of the offering and the anticipated closing date will be announced following receipt of all regulatory approvals to complete the transaction.About BV Financial, Inc.BV Financial, Inc. is the parent company of BayVanguard Bank. BayVanguard Bank is headquartered in Baltimore, Maryland with 15 banking offices in the Baltimore metropolitan area and the Eastern Shore of Maryland. BayVanguard Bank is a full-service community-oriented financial institution dedicated to serving the financial service needs of consumers and businesses.Forward-Looking StatementsCertain statements contained herein constitute \"forward-looking statements\" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by words such as \"may,\" \"will,\" \"would,\" \"intend,\" \"believe,\" \"expect,\" \"plan,\" \"estimate,\" \"anticipate,\" \"continue,\" or similar terms or variations on those terms, or the negative of those terms. These statements are based upon the current beliefs and expectations of Company management and are subject to significant risks and uncertainties. Actual results may differ materially from those set forth in the forward-looking statements as a result of numerous factors. Factors that could cause such differences to exist include, but are ...