Investing.com -- Marathon Bancorp, Inc. (NASDAQ:MBCC), the holding company for Marathon Bank, launched its initial public offering (IPO) at a price of $10.00 per share and began trading on the Nasdaq Capital Market today. The company had previously announced the commencement of its stock offering on February 20, as part of its transition from a mutual holding company structure to a fully stock holding company form.

Trading began today with the stock opening at $12.00 per share, indicating a positive reception to the company’s transition to a fully stock holding company.

The company is offering up to 1,897,500 shares of common stock for sale. This number could rise to 2,182,125 shares, depending on certain conditions. The shares are being offered in a subscription offering to certain depositors of Marathon Bank and the Bank’s employee stock ownership plan.

The offering is being managed by Janney Montgomery Scott LLC, a financial services firm. To complete the offering, Marathon Bancorp must sell at least 1,402,500 shares of its common stock.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.