UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934
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| Item 8.01 | Other Events |
On July 21, 2023, Somerset Savings Bank, SLA (the “Bank”) announced that SR Bancorp, Inc. (the “Company”), holding company for the Bank, is commencing its stock offering of up to 9,200,000 shares of common stock at a purchase price of $10.00 per share (subject to adjustment to 10,580,000 shares of common stock based on demand for the shares or changes in market conditions without resoliciting investors). The Bank also announced that the registration statement for the sale of the Company’s common stock has been declared effective by the Securities and Exchange Commission and that the regulatory approvals required to commence the offering have been received, including the approvals of the New Jersey Department of Banking and Insurance and the Federal Deposit Insurance Corporation.
In addition, the Company and the Bank have received the required regulatory approvals associated with the proposed merger with Regal Bancorp, Inc. and Regal Bank. The proposed merger will occur only following the completion of the conversion and related stock offering and the completion of other merger-related conditions. The conversion stock offering and the merger are currently anticipated to be completed in the third quarter of 2023.
For more information about the stock offering and the proposed merger, see the press release, dated July 21, 2023, which is filed as Exhibit 99.1 hereto and incorporated herein by reference.
| Item 9.01 | Financial Statements and Exhibits |
(d) Exhibits
| Exhibit |
Description | |
| 99.1 | Press Release dated July 21, 2023. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
| SR BANCORP, INC. | ||||||
| DATE: July 21, 2023 | By: | /s/ William P. Taylor | ||||
| William P. Taylor | ||||||
| Chairman of the Board and Chief Executive Officer | ||||||