Malvern wraps $36.37 million public stock sale, second-step conversion

Proceeds used for general corporate purposes; Stifel Nicolaus assists

By Devika Patel

Knoxville, Tenn., Oct. 11 - Malvern Bancorp, Inc. said it settled a $36.37 million public offering of stock. The deal was conducted in connection with the second-step conversion of Malvern Federal Mutual Holding Co. from the mutual to the stock form of organization, which also settled on Thursday. Stifel, Nicolaus & Co., Inc. was the bookrunner for the offering, which priced for $31.63 million with a 15% greenshoe on May 31.

The company sold common shares at $10.00 each. The price per share is a 25% premium to the May 30 closing share price of $8.00.

Proceeds will be used for general corporate purposes.

The holding company for Malvern Federal Savings Bank is based in Paoli, Pa.

Issuer:	Malvern Bancorp, Inc.
Issue:	Common stock
Amount:	$36,368,750
Shares:	3,636,875
Price:	$10.00
Warrants:	No
Bookrunner:	Stifel, Nicolaus & Co., Inc.
Pricing date:	May 31
Settlement date:	Oct. 11
Stock symbol:	Nasdaq: MLVF
Stock price:	$8.00 at close May 30
Market capitalization:	$66.05 million

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