CFSB Bancorp, Inc. (the “Company”), the holding company for Colonial Federal Savings Bank (the “Bank”), announced that the Company completed its initial public offering and the mutual holding company reorganization of the Bank on January 12, 2022. The shares of the Company’s common stock are expected to begin trading on the Nasdaq Capital Market on January 13, 2022 under the ticker symbol “CFSB.”
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The Company sold 2,804,306 shares of common stock at $10.00 per share for gross offering proceeds of $28.0 million. The offering was not oversubscribed. Accordingly, all valid orders were filled. Direct Registration Statements reflecting the shares purchased in the offering are expected to be mailed on or about January 13, 2022.
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Piper Sandler & Co. was the Company’s selling agent in the offering. Luse Gorman, PC served as legal counsel to the Company and the Bank. Silver, Freedman, Taff & Tiernan LLP served as legal counsel to Piper Sandler & Co.
CFSB Bancorp, Inc. is the stock holding company for Colonial Federal Savings Bank as a result of the completion of the reorganization of the Bank into the mutual holding company structure and related stock offering. Colonial Federal Savings Bank was founded in 1889 and currently operates three full-service banking offices and one limited-service banking office in Norfolk, County, Massachusetts.
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