Bankfinancial Corp. (BFIN) has released an update.
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In a strategic move on February 7, 2024, a company has agreed to a Standstill Agreement with SVB Partners Parties, which includes appointing Benjamin Mackovak to its Board until the 2026 Annual Meeting. This agreement restricts SVB Partners Parties from acquiring more than 9.99% of the company’s stock or influencing company policies and board composition. They must also support the board’s nominees and recommendations during the standstill period, which lasts until the earliest of several defined events, including potential breaches of the agreement or changes in board membership.
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For a comprehensive understanding of the announcement, you can read the full document here.