12 C.F.R. § 563b.330 How do I price my conversion shares?
Title 12 - Banks and Banking
(a) You must sell your conversion shares at a uniform price per share and at a total price that is equal to the estimated pro forma market value of your shares after you convert. (b) The maximum price must be no more than 15 percent above the midpoint of the estimated price range in your offering circular. (c) The minimum price must be no more than 15 percent below the midpoint of the estimated price range in your offering circular. (d) If OTS permits, you may increase the maximum price of conversion shares sold. The maximum price, as adjusted, must be no more than 15 percent above the maximum price computed under paragraph (b) of this section. (e) The maximum price must be between $5 and $50 per share. (f) You must include the estimated price in any preliminary offering circular.
Title 12: Banks and Banking
PART 563b—CONVERSIONS FROM MUTUAL TO STOCK FORM
Subpart A—Standard Conversions
Offers and Sales of Stock
§ 563b.330 How do I price my conversion shares?
