Narragansett Bancorp, Inc.: subscription offering oversubscribed by May 31, 2025

What happened The company reported that it has completed its subscription offering in connection with the proposed two-tier holding company reorganization of BayCoast Bank and Narragansett Financial Corporation. The filing states the subscription offering was oversubscribed by depositors of the Bank as of May 31, 2025. The closing of the offering and reorganization remains subject to customary final regulatory approvals and satisfaction of customary closing conditions. The filing says final results of the offering and the anticipated closing date will be announced following receipt of all regulatory approvals to complete the transaction.

Key details

• The filing is Item 8.01: other events, reporting completion of the subscription offering tied to the proposed two-tier reorganization.
• The subscription offering was oversubscribed by depositors of the Bank as of May 31, 2025.
• The company does not expect to conduct a community offering or a syndicated community offering because of the oversubscription.
• Closing remains subject to customary final regulatory approvals and customary closing conditions; final results and anticipated closing date will be announced after approvals are received.

Why it may matter This filing reports Item 8.01 (other events), which covers the status of the subscription offering and the proposed two-tier holding company reorganization. The filing also includes Item 9.01 references to financial statements and exhibits. The filing does not show why the insider traded or why the company acted.