8-K
filed April 26, 2024, 7:59 PM ET
ticker HNVR
CIK 0001828588
other material
confidence high
sentiment neutral
materiality 0.60
Hanover Bancorp issues 125K Series A Preferred to Castle Creek in exchange for common shares
Hanover Bancorp, Inc. /MD
- Castle Creek exchanges 125,000 common shares for 125,000 new Series A Convertible Perpetual Preferred shares; authorized shares increased to 450,000.
- The exchange allows Castle Creek to purchase additional common shares without exceeding the 9.9% regulatory voting ownership limit.
- After exchange, Castle Creek holds 515,750 common + 275,000 Series A Preferred; board/observer rights trigger if aggregate exceeds 865,000 shares.
- Company retains right of first offer on any transfer of Series A Preferred shares by Castle Creek.
Key facts
Extracted from this filing and checked against the source text.
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
Hanover Bancorp, Inc. /MD: Increased authorized shares of Series A Convertible Perpetual Preferred Stock from 150,000 to 450,000 (effective 2024-04-25).
- Change
- charter amendment
- Effective
- 2024-04-25
Exact text from the filing
the Company agreed to: (i) file with the Secretary of State of the State of New York a Certificate of Amendment to the Company’s Certificate of Incorporation (the “Amendment”) increasing the number of authorized shares of the Company’s Series A Convertible Perpetual Preferred Stock (“Series A Preferred Stock”) from 150,000, par value $0.01 per share, to 450,000, par value $0.01 per share
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Hanover Bancorp, Inc. /MD entered into Exchange Agreement with Castle Creek Capital Partners VIII, L.P. (effective 2024-04-25).
- Action
- entry
- Agreement
- equity purchase
- Counterparty
- Castle Creek Capital Partners VIII, L.P.
- Effective
- 2024-04-25
Exact text from the filing
On April 25, 2024, Hanover Bancorp, Inc. (the “Company”) entered into an Exchange Agreement (the “Exchange Agreement”) with Castle Creek Capital Partners VIII, L.P. (“Castle Creek”).
View on SEC.gov
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.