PAOLI, Pa., Oct. 01, 2018 (GLOBE NEWSWIRE) — Malvern Bancorp, Inc. (Nasdaq: MLVF) (the “Company”), the parent company of Malvern Bank, National Association, announced today that it has commenced an underwritten public offering of $25.0 million of its common stock.The Company intends to grant the underwriter a 30-day option to purchase up to an additional 15% of the Company’s common stock sold in the offering.The offering is subject to market and other conditions, and there can be no assurances as to whether or when the offering may be completed, or as to the actual size or terms of the offering.All of the shares to be sold in the proposed offering will be sold by the Company.
Sandler O’Neill + Partners, L.P. will serve as the sole underwriter for the offering.
The Company intends to use the net proceeds of the offering to increase its capital structure, to fund future organic growth and for working capital and other general corporate purposes.The Company may also use a portion of the net proceeds for future acquisitions, although the Company has no present commitments or agreements to do so.
This announcement is for informational purposes only and is not an offer to sell or the solicitation of an offer to buy any securities of the Company, which is made only by means of a prospectus supplement and related base prospectus, nor will there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
The Company has filed a shelf registration statement (including a prospectus) (File No. 333-219999) and a preliminary prospectus supplement with the Securities and Exchange Commission, or the SEC, for the offering to which this communication relates. The sale of shares of common stock in the underwritten offering is being made solely pursuant to such prospectus supplement and accompanying base prospectus. Before you invest, you should read the prospectus in the registration statement, the preliminary prospectus supplement, and other documents the Company has filed with the SEC for more complete information about the Company and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, copies of the preliminary prospectus supplement and the accompanying prospectus relating to the offering may be obtained by contacting Sandler O’Neill + Partners, L.P., 1251 Avenue of the Americas, 6th Floor, New York, New York 10020, or by phone at 1-866-805-4128.
