IPO - PATRIOT NATIONAL BANCORP INC

Form Type: 424B5

Filing Date: 2025-06-04

Corporate Action: Ipo

Type: New

Accession Number: 000143774925019364

Filing Summary: Patriot National Bancorp, Inc. is offering 8,524,160 shares of its common stock at a public offering price of $1.25 per share, which is intended to raise approximately $10.47 million after deducting expenses. The offering is targeted at accredited investors without the involvement of underwriters or placement agents. The common stock is listed on the Nasdaq Global Market under the symbol 'PNBK', where its last reported sale price was $1.17 per share. The shares are expected to be delivered on or about June 5, 2025, following customary closing conditions. The proceeds from this offering will be used for general corporate purposes including capital expenditures and working capital. The company cautions that investing in their securities carries a high degree of risk, and emphasizes the necessity of reviewing risk factors detailed in the prospectus supplement and related documents. As a smaller reporting company, Patriot National Bancorp qualifies for certain disclosure exemptions under the regulatory framework.

Form Type: 8-K

Filing Date: 2025-06-04

Corporate Action: Ipo

Type: New

Accession Number: 000143774925019363

Filing Summary: On June 3, 2025, Patriot National Bancorp, Inc. entered into a Securities Purchase Agreement with accredited investors to conduct a registered direct offering of 8,524,160 shares of common stock at a per share price of $1.25. The offering is expected to generate approximately $10.47 million in net proceeds after expenses, which will be used for general corporate purposes such as capital expenditures and working capital. The shares are being offered under a prospectus supplement dated June 4, 2025, related to a previously filed registration statement effective May 22, 2025. The offering's closing is anticipated to occur around June 5, 2025, pending customary closing conditions being met. Details of the Securities Purchase Agreement and legal opinions are attached as exhibits in the filing.