Brief: Patriot National Bancorp And American Challenger Development Corp Agree To Merge

Patriot National Bancorp

15/11/2021 14:12

Nov 15 (Reuters) - Patriot National Bancorp Inc  PNBK.O :
    * PATRIOT NATIONAL BANCORP AND AMERICAN CHALLENGER
DEVELOPMENT
CORP. AGREE TO MERGE AND CREATE LARGEST DIGITAL CHALLENGER BANK
IN AMERICA
    * PATRIOT NATIONAL BANCORP INC - IMPLIED TOTAL TRANSACTION
VALUE
OF MERGER IS APPROXIMATELY $119 MILLION
    * PATRIOT NATIONAL BANCORP INC - KEY MEMBERS OF AMERICAN
CHALLENGER'S MANAGEMENT TEAM AND BOARD OF DIRECTORS WILL JOIN
PATRIOT
    * PATRIOT NATIONAL BANCORP INC - MICHAEL CARRAZZA, PATRIOT'S
CURRENT CHAIRMAN, WILL REMAIN A DIRECTOR OF PATRIOT FOLLOWING
MERGER
    * PATRIOT NATIONAL BANCORP INC - FOLLOWING CLOSING OF
MERGER,
PATRIOT WILL CONTINUE TO TRADE UNDER TICKER PNBK

Source text for Eikon:  ID:nGNXbXXyYz 
Further company coverage:  PNBK.O 

 ((Reuters.Briefs@thomsonreuters.com;))