secwatch.observer — SEC 8-K summary
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Issuer:     MACATAWA BANK CORP (—)
CIK:        0001053584
Form:       8-K
Filed at:   2024-04-15T23:59:59+00:00
Accession:  0000905729-24-000065
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.90
Item codes: 1.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Macatawa Bank to be acquired by Wintrust for ~$510M ($14.85/sh) in stock
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- Aggregate consideration ~$510.3M (~$14.85/sh) in Wintrust common stock; fixed within a $89.03-$113.03 collar.
- Exchange ratio: 0.1314-0.1668 Wintrust shares per Macatawa share; reference price $101.03.
- Macatawa Bank to retain separate charter, operate under Macatawa Bank name in Michigan post-merger.
- Richard L. Postma expected to join Wintrust board; one Macatawa director seat offered.
- Closing expected in H2 2024; subject to shareholder and regulatory approvals; termination fee $20.4M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1053584/000090572924000065/0000905729-24-000065-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1053584/000090572924000065/mcbc8k_041524.htm
  HTML page:      https://secwatch.observer/filing/0000905729-24-000065

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