Northfield Bancorp, Inc. Commences Syndicated Community Offering And Increases Purchase Limitations
AVENEL, N.J., Sept. 15, 2010 (GLOBE NEWSWIRE) -- Northfield Bancorp, Inc. (Nasdaq:NFBK), a federal corporation and the stock holding company for Northfield Bank, announced today that Northfield Bancorp, Inc., the recently formed Delaware corporation and proposed new holding company for Northfield Bank, has commenced the syndicated community offering portion of the second-step conversion to sell shares of common stock not subscribed for in the subscription offering or the community offering. The syndicated community offering is being conducted through a syndicate of broker-dealers managed by Sandler O'Neill & Partners, L.P., the sole book-running manager for the syndicated community offering, and Keefe, Bruyette & Woods, Inc., the co-manager for the syndicated community offering. The syndicated community offering will be conducted on a best efforts basis, and Sandler O'Neill & Partners, L.P. and Keefe, Bruyette & Woods, Inc. are not required to purchase any shares of common stock in the syndicated community offering.
In addition, Northfield Bancorp, Inc. has filed prospectus supplements with the Securities and Exchange Commission increasing the maximum purchase limitation for individual purchasers and for purchasers associated or acting together with others from 300,000 shares to 5% of the shares sold in the offering. The purchase limitation may be further increased to 9.99%, provided that orders for shares of common stock exceeding 5% of the shares sold in the offering shall not exceed in the aggregate 10% of the total shares sold in the offering.
Consistent with the prospectus dated August 9, 2010, the only persons who will be resolicited are those who subscribed for the maximum purchase limit in the subscription offering. Northfield Bancorp, Inc. has also extended the community offering portion of the second-step conversion to 1:00 p.m., Friday, September 17, 2010.The completion of the conversion and offering is subject to, among other things, selling a minimum of 26,350,000 shares in the offering, the approval of the Plan of Conversion and Reorganization by the members of Northfield Bancorp, MHC (depositors of Northfield Bank) and the stockholders of Northfield Bancorp, Inc. (the federal corporation) at special meetings to be held September 27, 2010 and the receipt of all necessary final regulatory approvals.
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