---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-24-005831"
form_type: "8-K"
ticker: "HNVR"
cik: "0001828588"
company_name: "Hanover Bancorp, Inc. /MD"
filed_at: "2024-04-26T23:59:59+00:00"
generated_at: "2026-06-03T06:40:17.973079+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Hanover Bancorp issues 125K Series A Preferred to Castle Creek in exchange for common shares

## Summary
- 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.

## SEC filing metadata
- accession: 0001558370-24-005831
- form_type: 8-K
- ticker: HNVR
- cik: 0001828588
- company_name: Hanover Bancorp, Inc. /MD
- filed_at: 2024-04-26T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 5.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1828588/000155837024005831/0001558370-24-005831-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1828588/000155837024005831/hnvr-20240425x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-24-005831
- JSON: https://secwatch.observer/filing/0001558370-24-005831.json
- Plain text: https://secwatch.observer/filing/0001558370-24-005831.txt

## Key facts
- Governance Changes
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1828588/000155837024005831/0001558370-24-005831-index.htm
- Material Agreements
  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
  source text: 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”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1828588/000155837024005831/0001558370-24-005831-index.htm

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