M&A - MID PENN BANCORP INC

Form Type: 8-K

Filing Date: 2025-04-02

Corporate Action: Merger

Type: New

Accession Number: 000087963525000054

Filing Summary: On April 2, 2025, Mid Penn Bancorp, Inc. conducted a Special Meeting of Shareholders primarily to vote on the proposal to approve the issuance of Mid Penn common stock to the shareholders of William Penn Bancorporation as part of a merger plan dated October 31, 2024. A total of 14,618,626 shares were present at the meeting, representing a significant portion of the 19,355,797 shares outstanding. The proposal to issue shares as merger consideration was approved with 14,363,966 votes in favor, 230,601 against, and 24,060 abstentions. An additional proposal to adjourn the meeting to gather more proxies was not necessary as the votes were sufficient to move forward. A joint press release between Mid Penn and William Penn was also issued on the same date, providing further details about the merger.

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Form Type: 8-K

Filing Date: 2025-03-28

Corporate Action: Merger

Type: New

Accession Number: 000087963525000036

Filing Summary: On March 28, 2025, Mid Penn Bancorp, Inc. and William Penn Bancorporation announced the receipt of all regulatory approvals necessary to complete the merger of William Penn with and into Mid Penn. This marks a significant step towards finalizing the merger as the companies have now fulfilled the required regulatory obligations.

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Form Type: 10-K

Filing Date: 2025-03-13

Corporate Action: Acquisition

Type: Update

Accession Number: 000087963525000030

Filing Summary: Mid Penn Bancorp Inc. reports on its acquisition strategy and integration plans for its recent purchase of Commonwealth Benefits Group, highlighting the expected synergies and financial benefits that will arise from this acquisition. The document details the timeline for integration, projected cost savings, and revenue enhancements resulting from the merged operations. It also discusses the impact on shareholder value and provides financial outlooks post-acquisition, reinforcing the company's commitment to growth through strategic acquisitions.

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Form Type: S-4/A

Filing Date: 2025-02-05

Corporate Action: Merger

Type: Update

Accession Number: 000119312525020484

Filing Summary: Mid Penn Bancorp, Inc. and William Penn Bancorporation have entered into a merger agreement, whereby William Penn will merge with and into Mid Penn, with Mid Penn continuing as the surviving entity. Shareholders of both companies will vote on the proposed merger during special meetings on April 2, 2025. This merger will allow William Penn shareholders to receive 0.426 shares of Mid Penn common stock for each share they own, with a cap of 3,922,700 shares issuable. The merger is deemed in the best interest of shareholders by the boards of both companies, with recommendations to vote in favor. Mid Penn has expressed concerns over the fluctuation of stock prices, which could affect the merger agreement unless adjustments are made. The document also provides details about voting procedures and the importance of the shareholders' votes.

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Form Type: S-4

Filing Date: 2025-01-17

Corporate Action: Merger

Type: New

Accession Number: 000119312525008431

Filing Summary: On October 31, 2024, Mid Penn Bancorp, Inc. entered into a merger agreement with William Penn Bancorporation, under which William Penn will merge with and into Mid Penn, maintaining Mid Penn as the surviving entity. A special meeting for shareholders will take place where they will vote on related proposals. Mid Penn shareholders will vote on the issuance of shares in connection with the merger while William Penn shareholders will adopt the merger agreement. In the merger, each William Penn shareholder will receive 0.426 shares of Mid Penn common stock for each share they own, with cash paid for any fractional shares. The maximum number of shares to be issued is currently unspecified. The transaction is subject to shareholder approvals and is meant to combine the two companies' operations.

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