Insider Purchase: President of $PNBK Buys 7,019,978 Shares
Insider Trading Activity: Steven Sugarman, President of $PNBK, purchased 7,019,978 shares for approximately $5.26 million on March 20, 2025, increasing his holdings significantly; there has been only one insider trade in the past six months, which was a purchase.
Institutional Investor Movements: In the last quarter, three institutional investors increased their positions in $PNBK stock while five reduced theirs, indicating mixed sentiment among institutional stakeholders.
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Patriot National Bancorp raises $10M in direct stock offering
Recent Offering: Patriot National Bancorp completed a registered direct offering of approximately 8.52 million shares at $1.25 per share, raising about $10.65 million in gross proceeds.
Stock Performance: Following the offering, the company's stock price increased by 3.3% during after-market trading hours.
Patriot National Bancorp Announces Completion of $10M Registered Direct Offering
Successful Stock Offering: Patriot National Bancorp, Inc. has completed a registered direct offering of 8,524,160 shares of common stock at $1.25 per share, raising gross proceeds of $10,655,200, following a previous private placement that raised over $50 million.
Strengthened Capital Base: The company's president expressed confidence in the strong investor interest and noted that the successful offering enhances the bank's capital base, positioning it to better serve clients and achieve strategic objectives.
