Patriot National Bancorp raises ~$5.5M in registered direct offering of common stock and warrants

PATRIOT NATIONAL BANCORP INC

Issued 4,782,608 voting common shares at $1.15/share and 956,522 five-year warrants exercisable at $1.25 per share.
Gross proceeds ~$5.5M; estimated offering expenses $350,000; no underwriter or placement agent.
Proceeds to be invested in wholly-owned bank subsidiary Patriot Bank, N.A. and for general corporate purposes.
Warrants exercisable no earlier than six months after closing, subject to Non-Control Conditions.

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