secwatch.observer — SEC 8-K summary
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Issuer:     Beacon Financial Corp (BBT)
CIK:        0001108134
Form:       8-K
Filed at:   2024-12-16T23:59:59+00:00
Accession:  0001104659-24-128694
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 3.02, 5.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Berkshire Hills Bancorp to acquire Brookline Bancorp in stock merger; shareholders receive 0.42x Berkshire shares
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- Merger consideration: each Brookline share exchanges for 0.42 Berkshire common share; fractional shares paid in cash.
- Berkshire raises ~$100M via private placement of 3.45M shares at $29/sh; proceeds support merger and capital ratios.
- Combined board set at 16 directors: 8 from Berkshire, 8 from Brookline; Brunelle Chair, Perrault CEO for ≥2 years.
- Termination fee of $45M applies if either party backs out under specified conditions.
- Sean Gray enters new employment agreement with $3.9M retention bonus (half at Yr1, half at Yr2 post-close).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1108134/000110465924128694/0001104659-24-128694-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1108134/000110465924128694/tm2431117d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-128694

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