UNITED STATES SECURITIES AND EXCHANGE COMMISSION |
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| Washington, D.C. 20549 |
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| FORM 8-K |
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| CURRENT REPORT |
| Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 |
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| Date of Report (Date of earliest event reported) | October 8, 2021 |
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| Catalyst Bancorp, Inc. |
| (Exact name of registrant as specified in its charter) |
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| Louisiana | 001-40893 | 86-2411762 |
| (State or other jurisdiction | (Commission File Number) | (IRS Employer |
| of incorporation) | Identification No.) |
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| 235 N. Court Street, Opelousas, Louisiana | | 70570 |
| (Address of principal executive offices) | (Zip Code) |
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| Registrant’s telephone number, including area code | (337) 948-3033 |
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| Not Applicable |
| (Former name or former address, if changed since last report) |
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| Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2 below): |
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| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company x
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Securities registered pursuant to Section 12(b) of the Act:
Title of each Class | Trading Symbol(s) | Name of each exchange on which registered |
| Common Stock | CLST | The Nasdaq Stock Market, LLC |
On October 8, 2021, Catalyst Bancorp, Inc. (the “Company”) announced that, subject to the satisfaction of closing conditions, it expected to close the mutual-to-stock conversion of St. Landry Homestead Federal Savings Bank (the “Bank”) and stock offering of the Company on October 12, 2021.
On October 12, 2021, the Company announced that it had completed its initial public offering and the mutual-to-stock conversion of the Bank. The shares of the Company’s common stock are expected to begin trading on the Nasdaq Capital Market on October 13, 2021 under the ticker symbol “CLST.”
The Company sold 5,290,000 shares of common stock at $10.00 per share for gross offering proceeds of $52.9 million. Direct Registration Statements reflecting the shares purchased in the offering and refund checks for any subscribers not receiving all or part of shares ordered (with interest) are expected to be mailed on or about October 13, 2021.
For additional information, reference is made to the Company’s press releases, dated October 8, 2021 and October 12, 2021, included as Exhibit 99.1 and 99.2, respectively, hereto and incorporated herein by reference.
| ITEM 9.01 | | Financial Statements and Exhibits |
| | (a) | | Not applicable. |
| | (b) | | Not applicable. |
| | (c) | | Not applicable. |
| | (d) | | Exhibits |
The following exhibits are filed herewith.
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| | CATALYST BANCORP, INC. |
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| Date: October 13, 2021 | By: | /s/ Joseph B. Zanco |
| | | Joseph B. Zanco |
| | | President and Chief Executive Officer |
