secwatch.observer — SEC 8-K summary
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Issuer:     PEAPACK GLADSTONE FINANCIAL CORP (PGC)
CIK:        0001050743
Form:       8-K
Filed at:   2026-03-26T23:59:59+00:00
Accession:  0001193125-26-125298
Event type: other_material
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 3.02, 5.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Peapack-Gladstone closes $30M preferred stock, can issue $20M more by 2027
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- Initial $30M of 6% non-cumulative perpetual convertible preferred stock sold to affiliates of Strategic Value Bank Partners.
- Company has right to sell additional $20M at $1,000/share through Dec 31, 2027; purchasers must buy.
- Preferred stock convertible into common at $38/share (26.32 shares per $1,000 liquidation preference), non-callable for 5 years.
- Proceeds for general corporate purposes: growth, acquisitions, debt reduction, and holding-company or bank-level investments.
- Preferred stock expected to qualify as Tier 1 capital under applicable regulatory requirements.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1050743/000119312526125298/0001193125-26-125298-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1050743/000119312526125298/d124437d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-125298

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