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Avidia Bancorp (NYSE:AVBC) has announced the results of its subscription offering related to the mutual-to-stock conversion of Assabet Valley Bancorp. The offering, which closed on June 17, 2025, was oversubscribed in the first tier by eligible depositors of Avidia Bank as of December 31, 2023.
The subscription orders exceeded the adjusted maximum offering range of $191,762,500. Due to oversubscription, orders will be allocated according to the procedures outlined in the Company's May 13, 2025 Prospectus. The company will begin trading on the New York Stock Exchange under the symbol "AVBC" once final regulatory approvals are received.
