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BV Financial, Inc. Increases Maximum Purchase Limitations and Resolicits Maximum Purchasers from the Subscription Offering
BALTIMORE, MD / ACCESSWIRE / June 23, 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 / June 23, 2023 / BV Financial, Inc. (the \"Company\") (OTC PINK:BVFL), the holding company for BayVanguard Bank (the \"Bank\"), announced today that it increased the maximum purchase limitations in the stock offering being conducted by the Company in connection with the conversion of Bay-Vanguard, M.H.C., Inc., from mutual to stock form. Both the maximum individual purchase limit and the maximum group limit have been increased from 70,000 shares ($700,000) to 480,000 shares ($4,800,000). The subscription offering expired on June 21, 2023. As of that date, the Company had received valid stock orders for approximately 52.3% of the 9,775,000-share minimum of the offering range.Consistent with the prospectus dated May 15, 2023, as supplemented by the prospectus supplement dated June 23, 2023, only those persons who subscribed for the maximum number of shares in the subscription offering will be given the opportunity to order additional shares up to the new purchase limitations. Supplemental stock order forms will be distributed to those subscribers. A properly completed supplemental stock order form for any increased stock order, together with full payment of immediately available funds, must be received by the Company (not postmarked) by 4:30 p.m., Eastern Time, on June 30, 2023. All other eligible subscribers who submitted valid stock order forms in the subscription offering will have their stock orders filled in full.Completion of the conversion and stock offering remains subject to final regulatory approval, the approval of the stockholders of BV Financial, Inc. and the members of Bay-Vanguard, M.H.C., Inc., and the sale of at least 9,775,000 shares of common stock at the minimum of the offering range.This release is neither an offer to sell nor a solicitation of an offer to buy common stock of the Company. The offer is made only by the Company's prospectus when accompanied by a stock order form. The shares of common stock of the Company are not savings accounts or savings deposits, may lose value and are not insured by the Federal Deposit Insurance Corporation or any other government agency. The Company has filed with the Securities and Exchange Commission (the \"SEC\") a registration statement for the offering to which this press release relates as well as the final prospectus, dated May 15, 2023, f...