---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-22-017539"
form_type: "8-K"
ticker: "PNBK"
cik: "0001098146"
company_name: "PATRIOT NATIONAL BANCORP INC"
filed_at: "2022-07-21T23:59:59+00:00"
generated_at: "2026-06-24T09:50:59.549233+00:00"
event_type: "m_and_a"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Patriot National Bancorp and American Challenger mutually terminate merger agreement

## Summary
- 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.

## SEC filing metadata
- accession: 0001437749-22-017539
- form_type: 8-K
- ticker: PNBK
- cik: 0001098146
- company_name: PATRIOT NATIONAL BANCORP INC
- filed_at: 2022-07-21T23:59:59+00:00
- event_type: m_and_a
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 1.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1098146/000143774922017539/0001437749-22-017539-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1098146/000143774922017539/pnbk20220720_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-22-017539
- JSON: https://secwatch.observer/filing/0001437749-22-017539.json
- Plain text: https://secwatch.observer/filing/0001437749-22-017539.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.