First Seacoast Bancorp Increases Maximum Purchase Limits, and First Seacoast Bancorp, Inc. Commences Syndicated Community Offering

About this update from First Seacoast Bancorp, Inc.

[{"type":"text","content":" DOVER, N.H.--(BUSINESS WIRE)--\nFirst Seacoast Bancorp (Nasdaq: “FSEA”), the holding company for First Seacoast Bank, announced today the increase in the maximum purchase limits in the stock offering being conducted by First Seacoast Bancorp, Inc., the proposed successor to First Seacoast Bancorp, in connection with the conversion of First Seacoast Bancorp, MHC from mutual to stock form. Both the maximum individual purchase limit and the maximum group limit have been increased from 40,000 shares ($400,000) to 5% of the shares issued in all categories of the stock offering. At the minimum of the offering range disclosed in First Seacoast Bancorp, Inc.’s prospectus dated November 14, 2022, the new limits equate to $1,402,500 (140,250 shares).\n\nConsistent with the prospectus dated November 14, 2022, as supplemented by the prospectus supplement dated December 21, 2022, only those persons who subscribed for the maximum number of shares in the subscription offering or the community offering will be resolicited and given the opportunity to order additional shares up to the new purchase limits. 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 First Seacoast Bancorp, Inc. (not postmarked) by 2:00 p.m., Eastern time, on January 4, 2023. All other eligible subscribers who submitted valid stock order forms in the subscription offering or the community offering will have their stock orders filled in full.\n\nFirst Seacoast Bancorp, Inc. has commenced a syndicated community offering to sell the shares of common stock not subscribed for in the subscription offering or the community offering, both of which expired on December 16, 2022. In the subscription offering and the community offering, First Seacoast Bancorp, Inc. received valid stock orders for approximately 48.8% of the shares offered for sale at the 2,805,000-share minimum of the offering range. Keefe, Bruyette & Woods, Inc. acted as marketing agent in the subscription offering and the community offering.\n\nThe terms and conditions of the syndicated community offering are more fully set forth in First Seacoast Bancorp, Inc.’s prospectus dated November 14, 2022, as supplemented by a prospectus supplem...

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