First Seacoast Bancorp Completes Stock Offering
First Seacoast Bancorp, Inc. (FSEA)
Company Research
Source: Business Wire
DOVER, N.H.--(BUSINESS WIRE)--First Seacoast Bancorp (the “Company”), the mid-tier stock holding company for First Seacoast Bank (the “Bank”), announced today it has completed its stock offering in connection with the mutual holding company reorganization of Federal Savings Bank. Both the stock offering and the reorganization were completed effective as of the close of business today. Federal Savings Bank has changed its name to “First Seacoast Bank” in connection with the transaction. The Company’s common stock is scheduled to begin trading on the NASDAQ Capital Market under the symbol “FSEA” on July 17, 2019.The Company sold a total of 2,676,740 shares of common stock, which includes 238,473 shares sold to the First Seacoast Bank Employee Stock Ownership Plan, at a price of $10.00 per share. In addition, as part of the reorganization, the Company issued 3,345,925 shares of its common stock to First Seacoast Bancorp, MHC (the “MHC”), the Bank’s parent mutual holding company, and
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