UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF
THE SECURITIES EXCHANGE ACT OF 1934
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Item 1.01 | Entry Into a Material Definitive Agreement |
On February 11, 2025, Marathon Bancorp, Inc., a Maryland corporation (the “Company”), Marathon Bank, a Wisconsin savings bank and Marathon MHC, a Wisconsin mutual holding company, entered into an Agency Agreement with Janney Montgomery Scott LLC (“Janney”), who will assist in the marketing of the Company’s common stock during its stock offering.
For its services as financial advisor and marketing agent, Janney will receive (i) a management fee of $50,000, which has already been paid, and (ii) a success fee of $375,000 for shares of common stock sold in the Company’s subscription and community offerings. The success fee will be reduced by the management fee. In the event shares of common stock are sold through a group of broker-dealers in a syndicated community offering, the Company will pay fees of 6.0% of the aggregate dollar amount of shares of common stock sold in the syndicated community offering to Janney and any other broker-dealers included in the syndicated community offering.
For its services as records agent, Janney will receive a fee of $50,000, $5,000 of which has been earned in full and has already been paid. This fee can be increased by $10,000 in the event of any material change in applicable regulations or the plan of conversion, or a delay requiring duplicate or replacement processing due to changes in record dates.
The shares of common stock are being offered pursuant to a Registration Statement on Form S-1 (Registration No. 333-283805) filed by the Company under the Securities Act of 1933, as amended, and a related prospectus dated February 11, 2025.
The foregoing description of the terms of the Agency Agreement is qualified in its entirety by reference to the Agency Agreement, which is filed as Exhibit 1.1 hereto and incorporated by reference herein.
Item 9.01 | Financial Statements and Exhibits |
(d) Exhibits
Exhibit | Description | |
1.1 | Agency Agreement dated February 11, 2025, by and among Marathon Bancorp, Inc., Marathon Bank, Marathon MHC and Janney Montgomery Scott LLC | |
104 | Cover Page Interactive Data File (embedded in the cover page formatted in Inline XBRL) |
SIGNATURES
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.
Marathon Bancorp, Inc. | ||
DATE: February 18, 2025 | By: | /s/ Nicholas W. Zillges |
Nicholas W. Zillges | ||
President and Chief Executive Officer |