Are those of you who have the right of first refusal doing this deal? I have friends who can buy up to 200,000 shares at $10 - not sure how to advise them. Is this deal not going to work? Will the stock really not even trade to a premium on day 1 after the conversion?
Please do your own homework on this, but one idea is to look at westfield bank WFD. Just pull up the 1 year chart. The big drop is just the conversion date, just like UBNK is doing, no loss in value just converting to new shares. After that the stock has been treading water to down. These guys are pretty much following the WFD blueprint. Good Luck to all.
Am I reading wrong, here? Subscription generated $23.4 million and minimum is $93.2 million. Can there be aenough interest out there to close this piggy? Must be quite a syndicated offering. Love to listen in to the road show.
Everyone's situation is different, but I can tell you that I'm sitting the second step out. Take a look at Northfield yesterday and today. I think UBNK may open in a similar fashion. Also, UBNK is going to have a huge amount of capital of deploy in a difficult market. It looks like they plan to put much of it into commercial real estate loans. This will increase their risk profile. That being said, I have a decent slug of this already, at least for me, and plan to hold thru the transaction. Good luck, and dive into the prospectus.