secwatch.observer — SEC 8-K summary
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Issuer:     PATRIOT NATIONAL BANCORP INC (PNBK)
CIK:        0001098146
Form:       8-K
Filed at:   2025-03-26T23:59:59+00:00
Accession:  0001628280-25-014996
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 3.03, 5.02
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1098146/000162828025014996/0001628280-25-014996-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1098146/000162828025014996/pnbk-20250320.htm
  HTML page:      https://secwatch.observer/filing/0001628280-25-014996

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer