Patriot National Bancorp and American Challenger mutually terminate merger agreement

PATRIOT NATIONAL BANCORP INC

Termination effective July 18, 2022; boards of both companies approved unanimously.
Parties could not satisfy all closing conditions under current structure.
Active discussions for a modified transaction continue, but no assurance of a new agreement.
Related $540M private placement agreements with Oaktree, AG Credit, and Eagle Strait automatically terminated.
Mutual release of claims related to the Merger Agreement.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.