A total of 32,500,000 shares of common stock are expected to be sold in the subscription, community and syndicated community offerings at
As part of the conversion, each existing share of Company common stock held by current public stockholders will be converted into the right to receive 2.4484 shares of New Meridian common stock. The exchange ratio ensures that, after the conversion and offering, the current public stockholders of the Company will maintain approximately the same ownership interest in New Meridian as they owned in the Company immediately prior to the closing of the conversion, as adjusted to reflect certain assets held by
The Company's stock is expected to cease trading at the close of business on
Direct Registration System ("DRS") statements for shares purchased in the offering, and interest checks for any persons who paid for their orders by check or wire deposit, are expected to be mailed to purchasers on or about
This press release contains certain forward-looking statements about the conversion and offering. Forward-looking statements include statements regarding anticipated future events and can be identified by the fact that they do not relate strictly to historical or current facts. They often include words such as "believe," "expect," "anticipate," "estimate," and "intend" or future or conditional verbs such as "will," "would," "should," "could," or "may." Forward-looking statements, by their nature, are subject to risks and uncertainties. Certain factors that could cause actual results to differ materially from expected results include delays in consummation of the conversion and offering, the possibility of unforeseen delays in the delivery of direct registration statements or checks related to the offering and the exchange, and/or delays in the opening of trading due to market disruptions or exchange-related operational issues.
A registration statement relating to these securities has been filed with the
The shares of common stock are not savings accounts or savings deposits, may lose value and are not insured by the
Richard J. GavegnanoChairman, President and Chief Executive Officer (978) 977-2211