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Company Description (as filed with the SEC)
Melrose Bancorp, Inc. ("Melrose Bancorp" or the "Company") was incorporated in the State of Maryland in February 2014 for the purpose of becoming the bank holding company for Melrose Cooperative Bank (the "Bank"), upon consummation of the Bank's mutual to stock conversion. The conversion was consummated in October 2014 at which time Melrose Bancorp became the registered bank holding company of the Bank. In connection with the conversion, the Company sold 2,723,409 shares of common stock, at an offering price of $10 per share, and issued an additional 106,170 shares of its common stock to the Melrose Cooperative Bank Foundation, resulting in an aggregate issuance of 2,829,579 shares of common stock. The net proceeds from the stock offering, net of offering costs of $1,716,000, amounted to $25,518,000. The Company's stock began trading on October 22, 2014 on the NASDAQ Capital Market under the symbol "MELR". ... More ...