Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities
−Removed: During the quarter ended September 30, 2024, the Company did not sell any equity securities that were not registered under the Securities act of 1933, as amended.
−Removed: Effective July 31, 2024, the Company completed its initial public stock offering in connection with the Bank’s conversion from the mutual form of organization to the stock form of organization.
−Removed: The Company sold 5,459,473 shares of common stock at $10.00 per share pursuant to a Registration Statement on Form S-1, as amended (SEC File No.
−Removed: 333-277776), which was declared effective by the Securities and Exchange Commission on May 10, 2024.
−Removed: The stock offering resulted in gross offering proceeds of $54.6 million and net offering proceeds (after payment of offering expenses) of approximately $52.2 million.
−Removed: From the net offering proceeds, the Company lent $4.4 million to the Bank’s employee stock ownership plan (which used those funds to purchase 444,758 shares of the Company’s common stock in the stock offering), invested $26.1 million in the Bank as a capital contribution, and retained the remaining $21.4 million for general corporate purchases.
−Removed: Performance Trust Capital Partners, LLC served as the Company’s marketing agent in connection with the stock offering.
−Removed: The Company did not repurchase any shares of its common stock during the quarter ended September 30, 2024.
+Added: During the quarter ended March 31, 2025, the Company did not sell any equity securities that were not registered under the Securities Act of 1933, as amended.
+Added: The Company did not repurchase any shares of its common stock during the quarter ended March 31, 2025.
Defaults Upon Senior Securities
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