STOUGHTON, Mass.--(BUSINESS WIRE)--Randolph Bancorp, Inc. (the “Company”), a Massachusetts corporation and the proposed holding company for Randolph Savings Bank (the “Bank”), announced today that, based upon preliminary results, the subscription offering that closed on June 15, 2016 was oversubscribed in the first category of the subscription offering by eligible depositors as of December 31, 2014. The Bank received orders in excess of the adjusted maximum of the offering range (5,686,750 shares) and no further orders will be accepted. The number of shares to be sold in connection with the conversion and stock offering will be based on a final appraisal and receipt of final regulatory approvals. The Company is currently processing the orders and will provide allocation information as soon as it is available, which is expected to be during the week of June 27, 2016. At such time if you are a first category subscriber and would like to confirm your allocation, you may contact the stock information center at (877) 821-5783 (toll free) from 10:00 a.m. until 4:00 p.m., Eastern Time, Monday through Friday. This information will also be available online at https://allocations.kbw.com/. Keefe, Bruyette & Woods, Inc., A Stifel Company is acting as selling agent in the subscription offering and serving as financial advisor to the Company and the Bank in connection with the conversion.
This press release contains certain forward-looking statements about the conversion and the offering. Forward-looking statements include statements regarding anticipated future events and can be identified by the fact that they do not relate strictly to historical or current facts. They often include words such as “believe,” “expect,” “anticipate,” “estimate,” and “intend” or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.” Forward-looking statements, by their nature, are subject to risks and uncertainties. Certain factors that could cause actual results to differ materially from expected results include delays in consummation of the plan of conversion, difficulties in selling the common stock or in selling the common stock within the expected time frame, increased competitive pressures, changes in the interest rate environment, general economic conditions or conditions within the securities markets, and legislative and regulatory changes that could adversely affect the business in which the Company and Bank are engaged.
A registration statement relating to the common stock has been filed with the United States Securities and Exchange Commission. This press release is neither an offer to sell nor a solicitation of an offer to buy common stock. The offer will be made only by means of the written prospectus forming part of the registration statement. The shares of common stock of the Company are not savings accounts or savings deposits and are not insured by the Federal Deposit Insurance Corporation, the Depositors Insurance Fund, or any other government agency.