Patriot National Bancorp Announces Securities Purchase Agreement

An update from Patriot National Bancorp ( (PNBK) ) is now available.

Patriot National Bancorp, Inc. announced a securities purchase agreement with accredited investors to issue and sell 8,524,160 shares of its common stock at $1.25 per share, aiming to raise approximately $10.47 million. The proceeds will be used for general corporate purposes, and the offering is expected to close around June 5, 2025, without the involvement of underwriters or placement agents.

Spark’s Take on PNBK Stock

According to Spark, TipRanks’ AI Analyst, PNBK is a Neutral.

Patriot National Bancorp’s overall stock score is primarily impacted by its challenging financial performance and bearish technical indicators. The negative valuation metrics further exacerbate the situation, reflecting the company’s financial distress. While recent corporate events show positive strategic moves, they are insufficient to overcome the core financial and technical challenges.

To see Spark’s full report on PNBK stock, click here.

More about Patriot National Bancorp

Average Trading Volume: 702,740

Technical Sentiment Signal: Strong Sell

Current Market Cap: $109.1M

Learn more about PNBK stock on TipRanks’ Stock Analysis page.