secwatch.observer — SEC 8-K summary
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Issuer:     QUAINT OAK BANCORP, INC. (QNTO)
CIK:        0001391933
Form:       8-K
Filed at:   2022-12-13T23:59:59+00:00
Accession:  0000927089-22-000126
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Quaint Oak sells ~4.9% stake to FNCB at $22.50/sh; second closing up to 9.9% pending regulatory OK
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- Sold 105,904 shares (4.9% of outstanding) to FNCB Bancorp on Dec. 12, 2022 for $2,382,840 at $22.50/share.
- Agreement permits up to 116,292 additional shares (second closing) capped at 9.9% beneficial ownership.
- Second closing subject to Federal Reserve approval, no MAE, and must close by March 12, 2023.
- Company to contribute $2.3M of net proceeds to Quaint Oak Bank for general corporate purposes.
- PNC FIG Advisory served as exclusive placement agent for the offering.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1391933/000092708922000126/0000927089-22-000126-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1391933/000092708922000126/qnto20221212_8k.htm
  HTML page:      https://secwatch.observer/filing/0000927089-22-000126

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