secwatch.observer — SEC 8-K summary
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Issuer:     SR Bancorp, Inc. (SRBK)
CIK:        0001951276
Form:       8-K
Filed at:   2023-07-21T23:59:59+00:00
Accession:  0001193125-23-191290
Event type: other_material
Sentiment:  neutral
Materiality: 0.85
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SR Bancorp commences stock offering up to 10.58M shares at $10; merger with Regal Bancorp pending
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- Offering up to 9.2M shares at $10 each (adjustable to 10.58M based on demand), expected list on Nasdaq as SRBK.
- Subscription offering priority to depositors, expires Aug 15, 2023; community offering for remaining shares.
- Regulatory approvals received from NJDOBI, FDIC, and FRBNY for conversion and merger with Regal Bancorp.
- Merger to occur after stock offering completion, with Somerset Savings Bank converting to commercial charter and renamed Somerset Regal Bank.
- Minimum offering condition: sale of at least 6.8M shares; proceeds partly used to fund charitable foundation with up to 529,000 shares and $1.1M cash.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1951276/000119312523191290/0001193125-23-191290-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1951276/000119312523191290/d473037d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-191290

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