Avidia Bancorp announces stock offering agency agreement

Avidia Bancorp, Inc., a Maryland-based savings institution, disclosed on Tuesday, May 13, 2025, that it has entered into an Agency Agreement with Keefe, Bruyette & Woods, Inc. (KBW). This agreement pertains to the marketing of Avidia Bancorp’s common stock in an upcoming offering linked to the conversion of Assabet Valley Bancorp from a mutual to a stock holding company.

Under the terms of the agreement, KBW will receive a management fee of $30,000, along with a success fee that amounts to 1.25% of the total purchase price of the shares sold in the subscription offering. Additionally, if a community offering is conducted, KBW will earn a success fee of 3.0% of the aggregate purchase price of the shares sold, excluding those purchased by company insiders and those contributed to a charitable foundation established in connection with the conversion.

Furthermore, KBW will be compensated with a $75,000 fee for conversion agent and data processing records management agent services. The company will also cover KBW’s out-of-pocket and legal expenses related to its marketing and agent services. In the event of a syndicated community offering, KBW may receive a transaction fee up to 5.0% of the total purchase price of all shares sold. The bank has demonstrated steady growth with revenue increasing by 6.78% over the last twelve months, as reported by InvestingPro.

The common stock offering is being conducted pursuant to a Registration Statement on Form S-1 (Registration No. 333-285815), which was filed with the Securities and Exchange Commission and declared effective on May 13, 2025.

Avidia Bancorp has provided the Agency Agreement as Exhibit 1.1 in its filing, which offers a detailed account of the arrangement. This filing is part of the company’s compliance with the Securities Exchange Act of 1934, as confirmed by the signature of Robert D. Cozzone, President and Chief Executive Officer of Avidia Bancorp, Inc., on the date of the report.

The information for this article is based on Avidia Bancorp’s recent SEC filing. Based on InvestingPro’s Fair Value analysis, the stock appears to be fairly valued at current levels. Investors seeking deeper insights into banking sector valuations can access comprehensive financial metrics and expert analysis through InvestingPro’s advanced valuation tools.

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