secwatch.observer — SEC 8-K summary
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Issuer:     CITIZENS FINANCIAL SERVICES INC (CZFS)
CIK:        0000739421
Form:       8-K
Filed at:   2023-06-13T23:59:59+00:00
Accession:  0001193125-23-165772
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.55
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CZFS announces merger consideration elections for HVBC; closing expected June 16
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- HVBC stockholders will receive 0.4040 CZFS shares per share unless a valid cash election was made; proration caps cash at 20% of total shares.
- Holders of 43.97% of HVBC shares elected cash; 39.61% elected stock; 16.42% made no election.
- Cash-electing shareholders will have 45.49% of their shares exchanged at $30.50 cash per share; remainder converted to CZFS stock.
- Closing anticipated on June 16, 2023, subject to customary conditions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/739421/000119312523165772/0001193125-23-165772-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/739421/000119312523165772/d485350d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-165772

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