Atlantic Union Bankshares to acquire American National in all-stock merger at 1.35x exchange ratio

Atlantic Union Bankshares Corp

Each AMNB share converts to 1.35 AUB shares; cash paid for fractional shares.
Two American National directors (Nancy Howell Agee, Joel R. Shepherd) to join AUB board post-close.
Termination fee of $17.2M payable by American National under certain conditions.
Directors and officers holding ~3.05% of AMNB shares sign affiliate agreements to vote in favor.
Closing subject to AMNB shareholder vote, regulatory approvals, and customary conditions.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Atlantic Union Bankshares Corp entered into Agreement and Plan of Merger with American National Bankshares Inc. (effective 2023-07-24).

Action: entry
Agreement: merger
Counterparty: American National Bankshares Inc.
Effective: 2023-07-24

Exact text from the filing

On July 24, 2023, Atlantic Union Bankshares Corporation (“Atlantic Union”), a Virginia corporation, entered into an Agreement and Plan of Merger (the “Merger Agreement”) with American National Bankshares Inc. (“American National”), a Virginia corporation.

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Atlantic Union Bankshares Corp filing history →

Source: SEC EDGAR

accession 0001104659-23-083643

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