Monitor for pricing announcement and completion of regulatory approvals. The offering will determine the initial public float and trading price on Nasdaq. Subscription levels will indicate demand; a fully subscribed offering would be a positive signal for the stock's debut.
Price Chart
Executive Summary
Narragansett Bancorp, Inc. entered into an Agency Agreement with Piper Sandler & Co. to market up to 7,912,000 shares (increaseable to 9,098,800) of common stock in connection with its two-tier holding company reorganization. The offering includes subscription, community, and potential syndicated offerings, with Piper Sandler receiving fees of 1.35% to 5.0% depending on the tranche. The company expects to retain up to 50% of net proceeds, and the stock will list on Nasdaq upon completion.
Key Facts
- Agency Agreement with Piper Sandler & Co. for marketing up to 7,912,000 shares (up to 9,098,800 if increased) of common stock.
- Part of a two-tier holding company reorganization: MHC contributes BayCoast Bank to newly formed Narragansett Bancorp, which then sells up to 49% of its stock.
- Piper Sandler fees: 1.35% of subscription offering, 3.0% of community offering, 5.0% of syndicated community offering, plus $75,000 for records management.
- Company expects to retain up to 50% of net proceeds from the offering.
- Regulatory approvals required from FRB and Massachusetts Division of Banks; registration statement on Form S-1 (No. 333-296731) declared effective.
- Securities to be listed on Nasdaq; company is an emerging growth company.
Financial Impact
Gross proceeds from up to 9,098,800 shares at an appraised price (not yet disclosed); net proceeds retained up to 50%.
Risk Factors
- Regulatory approval risk from FRB and Massachusetts Division of Banks.
- Market conditions could affect subscription levels and the ability to sell all shares.
- Dilution for existing MHC members as up to 49% of stock is sold to new investors.
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-353578 |
| Document: d157264d8k.htm | 0001193125-26-353578 |
| Document: 0001193125-26-353578-index-headers.html | 0001193125-26-353578 |
| Document: 0001193125-26-353578-index.html | 0001193125-26-353578 |
| Document: 0001193125-26-353578.txt | 0001193125-26-353578 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 5, 2026 21d ago | 8-K | — | awaiting T+20 | — | — |
Aug 17, 2026 10w ago | 8-K | — | awaiting T+20 | — | — |
Jul 23, 2026 13w ago | S-1/A | — | awaiting T+20 | — | — |
US Market Status
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