OBA Financial Services, Inc. Announces Anticipated Completion Date of Stock Offering
GERMANTOWN, Md., Jan. 15 /PRNewswire/ -- OBA Financial Services, Inc., the proposed holding company for OBA Bank, announced today that it anticipates closing its stock offering on Thursday, January 21, 2010.
Shares of OBA Financial Services, Inc. common stock are expected to begin trading on Friday, January 22, 2010, on the NASDAQ Capital Market under the symbol "OBAF." The stock offering will close at the adjusted maximum of the offering range. OBA Financial Services, Inc. will sell 4,628,750 shares of common stock at $10.00 per share in its subscription offering.
As provided in the Prospectus dated November 12, 2009, the stock offering may be further extended, and, if it is extended beyond January 29, 2010, all funds submitted to purchase shares will be returned.
The offering was oversubscribed by eligible account holders of OBA Bank, i.e., depositors having eligible accounts as of April 30, 2008. OBA Financial Services, Inc. received approximately $112 million of orders in the subscription offering. Accordingly, eligible account holders will have valid orders filled in accordance with the allocation procedures described in the prospectus and set forth in OBA Bancorp MHC's plan of conversion and reorganization. Supplemental eligible account holders as of September 30, 2009, as well as other depositors and certain borrowers as of October 31, 2009 of OBA Bank will not have their orders filled.
If you are an eligible account holder, i.e., a depositor having an eligible account as of April 30, 2008, and would like to confirm your allocation, please access the following website: https://allocations.kbw.com and have available your order number and the last four digits of your social security number or tax identification number. Your order number can be found on the Receipt of Order letter that was mailed to you. Such allocation information is currently available and, as noted, may change up to the time of trading. For other questions, please contact the Stock Information Center at (877) 860-2070 (toll free). Stock certificates and subscription refunds will be processed promptly after the close of the transaction.
This news release contains certain forward-looking statements about the proposed stock offering of OBA Financial Services, Inc. These include statements regarding the anticipated completion date of the stock issuance, the trading market for the shares of common stock and the processing of subscription refunds.
Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include words like "believe," "expect," "anticipate," "estimate" and "intend" or future or conditional verbs such as "will," "would," "should," "could" or "may." Certain factors that could cause actual results to differ materially from expected results include changes in general economic conditions, legislative and regulatory changes and changes in the securities markets.
SOURCE OBA Financial Services, Inc.