M&A - UNITED BANKSHARES INC/WV

Form Type: 8-K

Filing Date: 2025-01-10

Corporate Action: Merger

Type: New

Accession Number: 000119312525004551

Filing Summary: On January 10, 2025, United Bankshares, Inc. completed the acquisition of Piedmont Bancorp, Inc. following the merger agreement dated May 9, 2024. The merger was finalized at 5:01 p.m. and resulted in Piedmont being merged into United. As a result of the merger, each share of Piedmont common stock was converted into an equivalent of 0.300 shares of United common stock and cash for any fractional shares. Furthermore, all outstanding Piedmont Stock Options and Stock Warrants were canceled and converted into cash payments based on the average closing price of United stock. The piedmont bank, a subsidiary of Piedmont, also merged into United Bank, a subsidiary of United Bankshares.

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