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BV Financial Inc (OTCMKTS:BVFL) Stock On Radar After Commencement of Stock Offering

Madison Hall

The holding company of BayVanguard Bank, BV Financial Inc (OTCMKTS:BVFL) could well be one of the companies to keep an eye on this week in light of the announcement it made on May 22.

BV Financial, Inc. Announces Commencement of Stock Offering

The company announced that it was going to commence its stock offering in relation to the planned conversion of the BayVanguard MHC Inc (MHC) from the mutual holding company ecosystem. The transaction seeks to turn the MHC into a fully stock-holding company. As per the announcement, BV Financial would offer a maximum of 13,225,000 shares of the common stock for sale and it could also be increased to 15,208,750  shares eventually, for the purchase price of $10 each.

The shares are going to be offered in the form of a subscription offering to some of the depositors of the bank and also to the employees of the bank through a stock ownership plan. Those shares which do not find any takers from among the above-mentioned groups could be offered to the members of the public in the form of a community offering. The community offerings and the subscription offerings are going to be managed by Performance Trust Capital Partners LLC.

Madison Hall

After graduating from the University of Buffalo, Madison gained a real interest in the markets. She tends to be a swing trader and enjoys Pilates and yoga in her downtime.