Avidia Bancorp, Inc. Concludes its First Public Stock Sale
Avidia Bancorp's Common Stock Begins Trading on NYSE
Avidia Bancorp, Inc.'s common stock officially began trading on the New York Stock Exchange (NYSE) on August 1, 2025. The stock, which will trade under the ticker symbol "AVBC," is now actively trading on the NYSE 13.
This listing marks the culmination of Avidia Bancorp’s initial public offering (IPO) and its mutual-to-stock conversion of Assabet Valley Bancorp, which closed on July 31, 2025 1. Since the IPO, insider trading activity has been reported, indicating active market participation 3.
The IPO saw a total of 19,176,250 shares of common stock sold at a price of $10.00 per share, grossing approximately $191.8 million. After the conversion and stock offering, Avidia Bancorp, Inc. now has 20,076,250 shares of common stock issued and outstanding 1.
The subscription offering was oversubscribed by eligible depositors of Avidia Bank as of December 31, 2023. All valid subscription orders from first-tier eligible depositors of Avidia Bank and the Employee Stock Ownership Plan were filled according to disclosed priorities and allocation procedures 1.
Direct Registration System ("DRS") Book-Entry statements and refund and interest checks will be mailed by Continental Stock Transfer & Trust Company on or about July 31, 2025. Purchasers can confirm their stock purchases by contacting the Stock Information Center at (877) 821-5783 or online at https://allocations.kbw.com 1.
Nutter McClennen & Fish LLP acted as legal counsel for the Company. Keefe, Bruyette & Woods, Inc., a Stifel Company, acted as marketing agent for the Company in the subscription offering. Luse Gorman, PC acted as legal counsel to Avidia Bancorp, Inc., Assabet Valley Bancorp, and Avidia Bank 1.
It is important to note that the common stock of Avidia Bancorp, Inc. is not insured by the Federal Deposit Insurance Corporation, the Depositors Insurance Fund, or any other government agency 1.
For any inquiries, investors can contact Robert D. Cozzone, President and Chief Executive Officer of Avidia Bancorp, Inc., at (800) 508-2265 1.
Avidia Bank, the Massachusetts-chartered stock savings bank with headquarters in Hudson, Massachusetts, and nine full-service banking offices in western Middlesex County and eastern Worcester County, Massachusetts, was part of this significant milestone 1. A total of 900,000 additional shares of common stock were contributed to the Avidia Bank Charitable Foundation, Inc. 1.
- The stock trading under ticker symbol "AVBC" on the NYSE is a result of Avidia Bancorp's IPO and mutual-to-stock conversion, with news of active market participation following the event.
- Insider trading activity was reported since the IPO, indicating that the finance sector, including investing and business, is closely watching Avidia Bancorp's progress.
- In the real-estate market, a significant portion of the funds raised from the IPO will likely be reinvested to further expand Avidia Bank's operations.
