secwatch.observer — SEC 8-K summary
======================================

Issuer:     PATRIOT NATIONAL BANCORP INC (PNBK)
CIK:        0001098146
Form:       8-K
Filed at:   2025-09-02T23:59:59+00:00
Accession:  0001437749-25-028159
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Patriot National Bancorp raises ~$25.6M via registered direct offering of 31.99M shares and warrants at $1.25/share
--------------------------------------------------------------------------------

- Offering consists of 19.2M voting common shares and 12.8M non-voting shares (via warrants), plus warrants for additional shares.
- Proceeds expected ~$25.6M before $250k expenses; closing expected Sept 3, 2025.
- Warrants exercisable after 6 months at $1.56/share, subject to increase to $1.685 under certain conditions.
- Proceeds for general corporate purposes including working capital, debt repayment, capex.
- No underwriter or placement agent; direct to accredited investors.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1098146/000143774925028159/0001437749-25-028159-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1098146/000143774925028159/pnbk20250902_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-25-028159

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