Patriot National Bancorp to sell 4.78 million shares at $1.15 in $5.5 million offering
Patriot National Bancorp agreed on September 23, 2026 to sell 4,782,608 shares of voting common stock at $1.15 per share to accredited investors in a registered direct offering, with no underwriter or placement agent. The company expects about $5.5 million in gross proceeds, less estimated offering expenses of $350,000, and plans to invest the capital in its subsidiary Patriot Bank NA and for general corporate purposes. The sale adds shares outstanding and includes five-year warrants for 956,522 non-voting common shares exercisable at $1.25, which may dilute existing shareholders.
Key points
- Shares sold: 4,782,608 voting common shares at $1.15 each, dated September 23, 2026
- Expected gross proceeds: approximately $5.5 million; estimated offering expenses: $350,000
- Warrants: 956,522 five-year warrants, one for every five shares purchased, exercisable no earlier than six months after closing at $1.25 per share
- Proceeds to fund Patriot Bank NA and general corporate purposes; offering made under an S-3 shelf effective May 22, 2025
The filing
Written by AI on Nov 9, 2026, 8:36 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on September 24, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.