FDSB’s preliminary providing value is $10 per share. You’ll be able to monitor immediately’s buying and selling at:
https://www.nasdaq.com/market-activity/shares/fdsb

The transaction closed on July 31, 2024, following approval by the financial institution’s members at a particular assembly on June 27, 2024, and the financial institution receiving all vital federal regulatory approvals. Earlier this 12 months, Fifth District initiated the method to transform from a non-public, member-owned establishment right into a public firm.

Based in 1926, Fifth District Financial savings Financial institution is headquartered in Algiers, with six places, and has near $500 million in property and near $400 million in deposits.
Fifth District Bancorp, Inc. (the “Firm”) is the holding firm for Fifth District Financial savings Financial institution (the “Financial institution”). The inventory conversion course of contains the next:

• The “Firm” sells 5,459,473 shares of frequent inventory, which incorporates 444,758 shares to be offered to the “Financial institution” Worker Inventory Possession Plan, for gross providing proceeds (earlier than deducting providing bills) of roughly $54.6 million primarily based on the providing value of $10.00 per share.
• The “Firm” points 100,000 shares of frequent inventory to The Fifth District Neighborhood Basis, Inc.
• The Firm expects to have 5,559,473 shares of frequent inventory issued and excellent upon the closing of the transaction.

The “Firm” performed a subscription providing and a group providing, which closed on June 18, 2024, and July 8, 2024, respectively.

Luse Gorman, PC, acted as authorized counsel to the “Firm” and the “Financial institution”. Efficiency Belief Capital Companions, LLC, acted as advertising agent for the “Firm” in reference to the inventory providing, and Nelson Mullins Riley & Scarborough LLP acted as authorized counsel to Efficiency Belief Capital Companions, LLC.