Fifth District Bancorp enters Agency Agreement with Performance Trust for conversion offering

Fifth District Bancorp, Inc.

Performance Trust will assist marketing of Fifth District Bancorp common stock in mutual-to-stock conversion under S-1 registration.
Success fees: 0.95% subscription, 1.50% community offering, 5.00% for institutional accredited investors solicited by Performance Trust.
Management fee $30,000 (credited against success fee); legal fee reimbursement up to $100,000; other expenses up to $60,000 (possible increase to $75,000 for resolicitation).
Records agent and stock information center fee $30,000 (possible increase up to $10,000 for material delay); expense reimbursement up to $30,000.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Fifth District Bancorp, Inc. entered into Agency Agreement with Performance Trust Capital Partners, LLC (effective 2024-05-10).

Action: entry
Counterparty: Performance Trust Capital Partners, LLC
Effective: 2024-05-10

Exact text from the filing

On May 10, 2024, Fifth District Bancorp, Inc. (the “Company”) and Fifth District Savings Bank (the “Bank”) entered into an Agency Agreement with Performance Trust Capital Partners, LLC (“Performance Trust”), pursuant to which Performance Trust will assist the Company, on a best efforts basis, in marketing the Company’s common stock during the Company’s stock offering in connection with the Bank’s proposed conversion from a mutual savings bank to a stock savings bank.

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Fifth District Bancorp, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-24-060476

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