Patriot National Bancorp completes $57.75M private placement; CFO resigns

PATRIOT NATIONAL BANCORP INC

Private placement of 60.4M common shares at $0.75/share and 90,832 Series A Preferred convertible into 7.27M common shares.
Noteholders converted ~$7M of principal into 9.33M common shares.
CFO David Finn resigns effective May 15, 2025; will assist transition.
Series A Preferred ranks senior to common for dividends and liquidation.

item 1.01 item 3.03 item 5.02

Executive movements

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Departed

David Finn

Executive Vice President and Chief Financial Officer

PNBK · PATRIOT NATIONAL BANCORP INC

Effective: 2025-05-15
Filed: March 26, 2025, 7:59 PM ET

On March 24, 2025, David Finn submitted his resignation as Executive Vice President and Chief Financial Officer of the Company and the Bank, the Company’s wholly-owned subsidiary, effective as of May 15, 2025 or as otherwise determined by Mr. Finn and the Company, to ensure a seamless transition.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

David Finn resigned as Executive Vice President and Chief Financial Officer at PATRIOT NATIONAL BANCORP INC.

Action: resigned
Role: Executive Vice President and Chief Financial Officer

Exact text from the filing

On March 24, 2025, David Finn submitted his resignation as Executive Vice President and Chief Financial Officer of the Company and the Bank, the Company’s wholly-owned subsidiary, effective as of May 15, 2025 or as otherwise determined by Mr. Finn and the Company, to ensure a seamless transition.

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PATRIOT NATIONAL BANCORP INC filing history →

Source: SEC EDGAR

accession 0001628280-25-014996

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