Malvern Bancorp, Inc. Announces Closing of Public Offering of Common Stock
Malvern Bancorp, Inc. (MLVF)
US:NASDAQ Investor Relations:
ir.malvernfederal.com
Company Research
Source: GlobeNewswire
PAOLI, Pa., Oct. 09, 2018 (GLOBE NEWSWIRE) -- Malvern Bancorp, Inc. (NASDAQ: MLVF) (the “Company”), the parent company of Malvern Bank, National Association, announced today the closing of the Company’s previously announced underwritten public offering of 1,190,477 shares of common stock at a price to the public of $21.00 per share, resulting in gross proceeds of $25.0 million. The net proceeds of the offering after deducting the underwriting discount and other estimated offering expenses are expected to be approximately $23.4 million. The underwriter has a 30-day option to purchase up to an additional 178,571 shares of common stock at the public offering price, less the underwriting discount. If the underwriter’s option is exercised in full, it would result in additional gross proceeds of approximately $3.7 million, or additional net proceeds of approximately $3.6 million after deducting the underwriting discount. Sandler O’Neill + Partners, L.P. served as the sole underwriter fo
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