secwatch.observer — SEC 8-K summary
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Issuer:     SEACOAST BANKING CORP OF FLORIDA (SBCF)
CIK:        0000730708
Form:       8-K
Filed at:   2025-05-29T23:59:59+00:00
Accession:  0001104659-25-054274
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Seacoast to acquire Villages Bancorporation for cash and stock; 25% cash/75% stock mix
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- Each VBI share converts to $1,000 cash, 38.5 SBCF shares, or a 25/75 cash/stock mix, subject to proration.
- Shareholders representing ~75% of VBI (Morse family) sign voting agreement capping SBCF ownership at 9.75%.
- Developer Support Agreement with The Villages entities provides 10-year branch lease exclusivity and deposit relationship.
- Seacoast may adjust exchange ratio downward if VBI tangible equity <$459.9M or allowance <1.76% of loans.
- Termination fee of $31.4M payable by VBI if its board withdraws recommendation or triggers certain conditions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/730708/000110465925054274/0001104659-25-054274-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/730708/000110465925054274/tm2516417d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-25-054274

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