Columbia Financial Says Subscription Offering Drew $925 Million in Orders, Raises Purchase Limits

MT Newswires Live

06/24

Columbia Financial (CLBK) said Tuesday its second-step conversion subscription offering received more than 5,000 orders, representing about $925 million.

The company increased the maximum individual purchase limit to 800,000 shares from 300,000 shares and the maximum group purchase limit to 5 million shares from 1 million shares.

The company said it currently does not intend to conduct a community offering and plans to sell any remaining shares through a firm-commitment underwritten offering at $10 per share.

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