Avidia Bancorp Announces Expected IPO Closing Date of July 31, 2025.

Avidia Bancorp, Inc. has received all final regulatory approvals to close its initial public offering, expected to occur on July 31, 2025. Listing of the company's common stock on the New York Stock Exchange under the ticker symbol "AVBC" is expected to begin on August 1, 2025. The company's subscription offering was oversubscribed in the first-tier by eligible depositors, allowing it to raise additional capital.

Avidia Bancorp, Inc. has received all final regulatory approvals to close its initial public offering (IPO), which is expected to occur on July 31, 2025. The company's common stock will begin trading on the New York Stock Exchange under the ticker symbol "AVBC" on August 1, 2025. The IPO was oversubscribed in the first-tier by eligible depositors, allowing Avidia Bancorp to raise additional capital.

Avidia Bancorp, a Massachusetts-chartered stock savings bank, is headquartered in Hudson, Massachusetts, and operates nine full-service banking offices in western Middlesex County and eastern Worcester County. The company's subscription offering was oversubscribed by eligible depositors, enabling it to sell 19,176,250 shares of common stock at a price of $10.00 per share. This includes 1,606,100 shares to be sold to Avidia Bank’s Employee Stock Ownership Plan (ESOP).

The company will contribute 900,000 shares of common stock to the Avidia Bank Charitable Foundation, Inc., which will be established and funded in connection with the conversion. Upon the completion of the conversion and stock offering, Avidia Bancorp expects to have 20,076,250 shares of common stock issued and outstanding.

Continental Stock Transfer & Trust Company, the company's transfer agent, expects to mail Direct Registration System (DRS) Book-Entry statements for the shares of common stock purchased in the subscription offering, as well as refund and interest checks, on or about July 31, 2025. Eligible subscribers may contact the Stock Information Center at (877) 821-5783 (toll-free) to confirm their subscriptions and allocations, or online at https://allocations.kbw.com, beginning on or about July 25, 2025.

Luse Gorman, PC is acting as legal counsel to the Company, Assabet Valley Bancorp, and Avidia Bank. Keefe, Bruyette & Woods, Inc., a Stifel Company, acted as marketing agent for the Company in the subscription offering, and Nutter McClennen & Fish LLP is acting as its legal counsel.

Forward-Looking Statements

This press release contains certain forward-looking statements about the conversion transaction and the subscription offering. Forward-looking statements include statements regarding anticipated future events and can be identified by the fact that they do not relate strictly to historical or current facts. They often include words such as “believe,” “expect,” “anticipate,” “estimate,” and “intend” or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.” Forward-looking statements, by their nature, are subject to risks and uncertainties. Certain factors that could cause actual results to differ materially from expected results include delays in closing the conversion and stock offering; possible unforeseen delays in delivering DRS Book-Entry statements or refund and interest checks; and/or delays in the start of trading due to market disruptions or otherwise.

Legal Disclosure

The shares of common stock of Avidia Bancorp, Inc. are not deposit accounts or savings accounts and are not insured by the Federal Deposit Insurance Corporation, the Depositors Insurance Fund, or any other government agency.

References

[1] https://www.stocktitan.net/news/AVBC/avidia-bancorp-inc-announces-expected-closing-date-of-initial-public-4i4c23la6df7.html

[2] https://www.morningstar.com/news/business-wire/20250724823516/avidia-bancorp-inc-announces-expected-closing-date-of-initial-public-offering