other material
confidence high
sentiment neutral
materiality 0.50
Mercer Bancorp engages Performance Trust for stock offering in mutual-to-stock conversion
Mercer Bancorp, Inc.
- Agency Agreement with Performance Trust Capital Partners for best-efforts marketing of common stock in conversion.
- Performance Trust receives $25,000 management fee and selling agent fee of greater of $250,000 or 1.0% of aggregate purchase price (excluding certain shares).
- Legal fee reimbursement up to $100,000; other expenses up to $10,000 ($20,000 if resolicitation).
- Stock information center manager fee of $30,000 (possible $10,000 increase for delays) plus up to $25,000 expense reimbursement.
- Syndicated community offering fee of 5.0% of aggregate shares sold by Performance Trust or other broker-dealers.