Blue Hills Bancorp, Inc., a Maryland corporation, is offering shares of common stock for sale in connection with the conversion of Hyde Park Bancorp, MHC from the mutual to the stock form of organization. We expect that our common stock will be listed for trading on the Nasdaq Global Market under the symbol “BHBK” upon conclusion of the stock offering. There is currently no public market for the shares of our common stock.
We are offering up to 24,150,000 shares of common stock for sale on a best efforts basis. We may sell up to 27,772,500 shares of common stock because of demand for the shares or changes in market conditions, without resoliciting subscribers. We must sell a minimum of 17,850,000 shares in order to complete the offering. In addition to the shares that we will sell in the offering, we intend to establish a charitable foundation in connection with the conversion and contribute to it shares of our common stock equal to 2.5% of the shares sold in the offering and an amount of cash such that the total contribution will equal $7.0 million. Source: Filing
