Cheviot Financial Corp. Completes Second-Step Conversion and $37.4 Million Stock Offering
19 1월 2012 - 12:41AM
Cheviot Financial Corp. ("New Cheviot" or the "Company")
(Nasdaq:CHEVD), announced today that it has completed its
second-step conversion and related public stock offering. Cheviot
Savings Bank is now 100% owned by New Cheviot and New Cheviot is
100% owned by public stockholders. The Company sold a total of
4,675,000 shares of common stock in the subscription, community and
syndicated community offerings, including 187,000 shares to the
Company's employee stock ownership plan. All shares were sold
at a purchase price of $8.00 per share. Stifel, Nicolaus &
Company, Incorporated acted as selling agent for the subscription
offering and community offering portions of the
offering. Stifel, Nicolaus & Company, Incorporated also
acted as sole book-running manager for the syndicated community
offering portion of the offering.
Concurrent with the completion of the offering, shares of common
stock of Cheviot Financial Corp., a federal corporation ("Cheviot
Federal"), owned by public stockholders have been converted into
the right to receive 0.8570 shares of the Company's common
stock. Cash in lieu of fractional shares will be paid at a
rate of $8.00 per share. As a result of the offering and the
exchange, the Company now has approximately 7,596,896 shares
outstanding and a market capitalization of approximately $60.8
million.
The shares of common stock sold in the offering and issued in
the exchange will begin trading on the Nasdaq Capital Market on
January 18, 2012 under the symbol "CHEVD" for a period of 20
trading days and will thereafter trade as "CHEV." Stock
certificates for shares purchased in the subscription offering and
community offering are expected to be mailed to subscribers on or
about January 18, 2012. Stockholders of Cheviot Federal
holding shares in street name will automatically receive shares of
New Cheviot and cash in lieu of fractional shares within their
investment accounts. Stockholders of Cheviot Federal holding
shares in certificated form will be mailed a letter of transmittal
on or about January 23, 2012 and will receive stock certificates
for their shares of New Cheviot common stock and a check
representing cash in lieu of fractional shares after submitting
their Cheviot Federal stock certificates and a properly completed
letter of transmittal to New Cheviot's transfer agent.
Luse Gorman Pomerenk & Schick, P.C., Washington, DC, served
as special counsel to Cheviot Financial Corp. for the conversion
and offering. SNR Denton US LLP, Washington, DC, served as
special counsel to Stifel, Nicolaus & Company, Incorporated. RP
Financial, LC., Arlington, Virginia, served as independent
appraiser for the conversion and offering.
This press release may contain certain forward-looking
statements about the Company. Forward-looking statements
include statements regarding anticipated future events and can be
identified by the fact that they do not relate strictly to
historical or current facts. They often include words such as
"believe," "expect," "anticipate," "estimate," and "intend" or
future or conditional verbs such as "will," "would," "should,"
"could," or "may." Forward-looking statements, by their
nature, are subject to risks and uncertainties. Certain
factors that could cause actual results to differ materially from
expected results include increased competitive pressures, changes
in the interest rate environment, general economic conditions or
conditions within the securities markets, and legislative and
regulatory changes that could adversely affect the business in
which the Company and its subsidiaries are engaged.
CONTACT: Thomas J. Linneman, President
513-661-0457
Cheviot Financial Corp (MM) (NASDAQ:CHEVD)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024
Cheviot Financial Corp (MM) (NASDAQ:CHEVD)
과거 데이터 주식 차트
부터 6월(6) 2023 으로 6월(6) 2024