Conversion Solutions Holdings (fka CSHD)

[schadenfreude]

Lns,
Look a little more carefully. This excerpt is from the same exact page you linked.

In connection with the conversion, Holding Company will offer its stock sale in a subscription offering to eligible categories of depositors, trustees, officers, Corporators and employees of the Bank and a community offering to residents of local areas. Thereafter the remaining shares will be offered in an underwritten public offering.

They are doing a private placement followed by an underwritten public offering. The company is directly selling stock so of course they can set the price at whatever multiple of book value they choose. Whether the offerees buy that stock is another matter. Please note that there is no price reset. The market makers are not deciding to make a market and work with the company to set the price. Nothing remotely resembling FHAL/CSHD at all.

My agenda is irrelevant; the facts speak for themselves.