secwatch.observer — SEC 8-K summary
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Issuer:     Hanover Bancorp, Inc. /MD (HNVR)
CIK:        0001828588
Form:       8-K
Filed at:   2024-04-26T23:59:59+00:00
Accession:  0001558370-24-005831
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1828588/000155837024005831/0001558370-24-005831-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1828588/000155837024005831/hnvr-20240425x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-24-005831

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