Narragansett Bancorp Announces Expected Closing Date for IPO and Nasdaq Listing
Narragansett Bancorp, Inc. has received all final regulatory approvals required to complete its two-tier holding company reorganization and related stock offering. The transaction is scheduled to close on November 2, 2026, at which time the Company's common stock is expected to begin trading on the Nasdaq Capital Market under the ticker symbol 'NARA'. The offering involves the sale of 9,098,800 shares of common stock, representing the adjusted maximum of the previously disclosed range. The company also plans to issue additional shares to its mutual holding company and a charitable foundation. Due to high demand, the subscription offering was oversubscribed by bank depositors as of May 2025, necessitating proration according to prospectus guidelines.
Topics: Bank Reorganization IPO/Listing Regulatory Approval Stock Offering
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Part of the story Narragansett Bancorp Completes Initial Public Offering and Reorganization (5 articles)