secwatch.observer — SEC 8-K summary
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Issuer:     MID PENN BANCORP INC (MPB)
CIK:        0000879635
Form:       8-K
Filed at:   2024-11-01T23:59:59+00:00
Accession:  0001193125-24-249074
Event type: m_and_a
Sentiment:  positive
Materiality: 0.80
Item codes: 1.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Mid Penn to acquire William Penn in all-stock deal valued at ~$127M
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- Exchange ratio: 0.4260 MPB shares per WMPN share; implied ~$13.58/share based on MPB close of $31.88.
- Transaction value ~$127M; expected close in first half 2025; unanimous board approval.
- William Penn had $812M assets, $465M loans, $630M deposits (9/30/24); combined entity ~$6.3B assets.
- Ken Stephon (WMPN CEO) to join Mid Penn board as Vice Chair of Mid Penn Bank.
- Termination fee of $4.9M payable by WMPN under certain conditions; affiliate letters cover ~9.2% of WMPN shares.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/879635/000119312524249074/0001193125-24-249074-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/879635/000119312524249074/d831431d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-249074

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer