secwatch.observer — SEC 8-K summary
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Issuer:     PFS Bancorp, Inc. (PFSB)
CIK:        0001967656
Form:       8-K
Filed at:   2023-08-14T23:59:59+00:00
Accession:  0001104659-23-091464
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

PFS Bancorp enters agency agreement with KBW for stock offering in mutual-to-stock conversion
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- Agreement with Keefe, Bruyette & Woods to assist marketing common stock in conversion from mutual to stock form.
- KBW receives $25k non-refundable management fee, $300k success fee at closing, plus fee up to 6% in syndicated offering.
- Reimbursement for KBW legal fees up to $100k (increasable to $115k) and other expenses up to $30k ($40k if delay).
- Conversion agent fee $30k (up to $45k if delayed) and out-of-pocket reimbursement up to $7.5k.
- Stock offered under S-1 registration statement dated August 11, 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1967656/000110465923091464/0001104659-23-091464-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1967656/000110465923091464/tm2323623d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-091464

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer