Lake Shore Bancorp, Inc., a Maryland corporation, has announced a new stock offering as part of its mutual holding company's conversion to a stock holding company. The company has entered into an Agency Agreement with Raymond James & Associates, Inc. to assist with marketing its common stock. Raymond James will receive a success fee of 1.35% on shares sold during the subscription and community offerings, excluding those purchased by insiders and their immediate families. Additionally, a 6.00% fee applies to stocks sold in a syndicated community offering. The offering is facilitated by a Registration Statement on Form S-1, filed with the Securities and Exchange Commission. Raymond James will also receive $30,000 for records agent services and reimbursements for certain expenses.
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