Central Plains Bancshares Inc

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.

On October 19, 2023, the Company completed the sale of 4,130,815 shares of its common stock, par value $0.01 per share, in connection with the mutual-to-stock conversion of the Association. The effective date of the Company's registration statement (Commission File No. 333-272636) was August 14, 2023. The Company registered for offer and sale shares of common stock, par value $0.01, at a sales price of $10.00 per share.

The selling agent who assisted the Company in the sale of its common stock was Keefe, Bruyette & Woods, Inc. ("KBW") For their services, KBW received a fee of 1.0% of the aggregate purchase price of the shares of common stock sold in the subscription offering, and $30,000 for conversion agent and data processing records management agent, as well as reimbursements for out-of-pocket expenses and legal expenses related to its marketing agent services and its conversion agent and records manager services.

As of December 31, 2023, the Company incurred expenses in connection with the offer and sale of the common stock totaling $1.9 million, resulting in net proceeds of $39.4 million. The Company utilized $3.3 million to fund an ESOP loan and invested $19.7 million of the net proceeds it received from the sale into the Association's operations, and has retained the remaining amount for general corporate purposes.