Brief: Linkbancorp, Inc. And Partners Bancorp To Combine In Transformational Merger Of Equals

Partners Bancorp

22/02/2023 23:01

Feb 22 (Reuters) - LINKBANCORP Inc  LNKB.O :
    * LINKBANCORP, INC. AND PARTNERS BANCORP TO COMBINE IN
TRANSFORMATIONAL MERGER OF EQUALS
    * LINKBANCORP INC - CREATING A PREEMINENT MID-ATLANTIC
COMMUNITY
BANK WITH NEARLY $3 BILLION IN ASSETS
    * LINKBANCORP INC - DEFINITIVE AGREEMENT UNDER WHICH
COMPANIES
WILL COMBINE IN AN ALL-STOCK COMBINATION, VALUED AT ABOUT $167.8
MILLION
    * LINKBANCORP INC - UNDER TERMS OF AGREEMENT, PARTNERS
SHAREHOLDERS WILL RECEIVE 1.15 SHARES OF LINK STOCK FOR EACH
PARTNERS SHARE THEY OWN
    * LINKBANCORP INC - UPON COMPLETION OF TRANSACTION, PARTNERS
SHAREHOLDERS WILL OWN APPROXIMATELY 56%
    * LINKBANCORP INC - COMBINED BANK HOLDING COMPANY WILL
OPERATE
UNDER LINKBANCORP, INC. NAME, AND COMBINED BANK SUBSIDIARY WILL
OPERATE AS LINKBANK
    * LINKBANCORP INC - COMBINED COMPANY WILL TRADE UNDER
LINKBANCORP,
INC. TICKER SYMBOL "LNKB" ON NASDAQ STOCK MARKET
    * LINKBANCORP INC - COMBINED COMPANY'S BOARD WILL HAVE
TWENTY-TWO
DIRECTORS, CONSISTING OF TWELVE DIRECTORS FROM LINK AND TEN
DIRECTORS FROM PARTNERS
    * LINKBANCORP INC - JOSEPH C. MICHETTI, JR., LINK'S CURRENT
CHAIRMAN, WILL CONTINUE TO SERVE AS CHAIRMAN OF COMBINED COMPANY
BOARD OF DIRECTORS

Source text for Eikon:  ID:nPn627mrFa 
Further company coverage:  LNKB.O 
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