Quaint Oak Bancorp sells 128,500 shares at $11.27 to Areti Bank for $1.45M

QUAINT OAK BANCORP, INC.

Sold 128,500 shares of common stock to Areti Bank International at $11.27/share for aggregate proceeds of $1,448,195.
Shares represent approximately 4.9% of pro forma outstanding common stock.
Transaction exempt from registration under Section 4(a)(2) and Rule 506(b) of Regulation D.
Proceeds to be used for general corporate purposes.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.99

QUAINT OAK BANCORP, INC. entered into Stock Purchase Agreement with Areti Bank International Inc. valued at $1,448,195 aggregate proceeds for 128,500 shares at $11.27 per share (effective 2024-04-19).

Action: entry
Agreement: equity purchase
Counterparty: Areti Bank International Inc.
Value: $1,448,195 aggregate proceeds for 128,500 shares at $11.27 per share
Effective: 2024-04-19

Exact text from the filing

On April 19, 2024, Quaint Oak Bancorp, Inc., a Pennsylvania corporation and the holding company for Quaint Oak Bank (the "Company"), entered into a Stock Purchase Agreement (the “Purchase Agreement”) with Areti Bank International Inc., an international banking entity incorporated in the Commonwealth of Puerto Rico (“Areti Bank”).

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QUAINT OAK BANCORP, INC. filing history →

Source: SEC EDGAR

accession 0000927089-24-000063

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