Magyar Bancorp’s Conversion and $39.1 Million Stock Offering

Luse Gorman advised Magyar Bancorp on the deal.

Magyar Bancorp, Inc., New Brunswick, New Jersey, the holding company for Magyar Bank, completed its conversion from the mutual holding company to the stock holding company form of organization and its related stock offering.  A total of 3,910,000 shares of common stock were sold in the subscription offering at a price of $10.00 per share.  The Company’s common stock trades on the Nasdaq Global Market under the symbol “MGYR.”

The Luse Gorman team included John Gorman (Picture), Steven Lanter and Beverly White.


Involved fees earner: John Gorman – Luse Gorman, PC; Steven Lanter – Luse Gorman, PC; Beverly White – Luse Gorman, PC;

Law Firms: Luse Gorman, PC;

Clients: Magyar Bancorp, Inc.;

Martina Bellini

Author: Martina Bellini