BV Financial Inc (OTCMKTS:BVFL) Stock In Focus After Stock Offering

Holding company for BayVanguard Bank, BV Financial Inc (OTCMKTS:BVFL) on May 22, 2023, announced starting the stock offering in relation to the proposed conversion of BayVanguard M.H.C, Incfrom the mutual holding company structure to a fully stock holding company.

BV Financial, Inc. Announces Commencement of Stock Offering

The firm is providing about 13,225,000 shares, which will be subject to an increase of about 15,208,750 shares of common stock at a price of $10.00 per share. Shares would be given in a subscription offering to some depositors and to its employee stock ownership plan. Shares of common stock not subscribed for subscription may be given to the general public in a community offering. For this, the preference will be for residents of Baltimore, Baltimore City and Anne Arundel, Dorchester, Talbot Counties, and Harford.

BV Financial’s common stock may get listed on Nasdaq Capital Market under the symbol “BVFL” on conversion. The community offerings and subscriptions are managed by Performance Trust Capital Partners, LLC.

The Company recommends using funds in IRA or another retirement account for buying shares in community offerings or subscriptions to contact the Stock Information Center before June 21, 2023. BV Financial should sell at least 9,775,000 shares of common stock in the offering. Conversion will be subject to regulatory approvals as well as its stockholders besides MHC’s members.