secwatch.observer — SEC 8-K summary
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Issuer:     INDEPENDENT BANK CORP (INDB)
CIK:        0000776901
Form:       8-K
Filed at:   2025-07-01T23:59:59+00:00
Accession:  0000776901-25-000237
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.01, 2.03, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Independent Bank Corp. closes Enterprise Bancorp acquisition; issues ~7.5M shares and $25.8M cash
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- Each EBTC share converted to 0.60 INDB shares + $2.00 cash; total consideration approx $25.8M cash and 7.5M INDB shares.
- INDB now has ~50.1M shares outstanding post-merger; stock consideration based on $61.61 VWAP.
- INDB assumes $60M Enterprise 5.25% sub notes due 2030; intends to repurchase and retire all on July 15, 2025.
- Appointed Kenneth Ansin (Class I) and Joseph Lerner (Class II) as directors; George Duncan in consultative role for one year.
- Customer account conversions expected over weekend of October 11, 2025; integration planned smoothly.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/776901/000077690125000237/0000776901-25-000237-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/776901/000077690125000237/indb-20250701.htm
  HTML page:      https://secwatch.observer/filing/0000776901-25-000237

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