OBA Financial Services, Inc. Announces Completion Date of Stock Offering
GERMANTOWN, Md., Dec. 31 /PRNewswire-FirstCall/ -- OBA Financial Services, Inc., the proposed holding company for OBA Bank, announced today that it expects to close its stock offering on Wednesday, January 6, 2010.
Shares of OBA Financial Services, Inc. common stock are expected to begin trading on Thursday, January 7, 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.
The Board of Directors, Officers and Employees of OBA Bank express their gratitude for the overwhelming support for the offering by their customers, pledge their best efforts toward the opportunities ahead, and look forward to serving the needs of their community, customers and new stockholders.
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 expected to be available on or about January 5, 2010 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.
The subscription offering was managed by Keefe, Bruyette, & Woods, Inc. Luse Gorman Pomerenk & Schick, P.C. acted as counsel to OBA Financial Services, Inc. and OBA Bank.
OBA Bank, a federally chartered, FDIC-insured savings bank, was organized in 1861. The Bank is headquartered in Germantown, Maryland and provides financial services to individuals, families and businesses through its five banking offices located in Maryland and the District of Columbia.
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.