Quaint Oak Bancorp issues $10M senior unsecured notes at 11% to repay maturing subordinated debt

QUAINT OAK BANCORP, INC.

Issued $9.75M (plus $250k committed) of 11.00% Fixed Rate Senior Unsecured Notes due March 1, 2028.
Net proceeds to repay $14M of 8.5% Fixed Rate Subordinated Notes maturing March 15, 2025.
Notes rank pari passu with existing senior unsecured debt; unsecured and effectively subordinate to secured debt.
Piper Sandler & Co. served as exclusive placement agent.
Updated Risk Factors filed as Exhibit C, superseding those in 2023 10-K.

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