Company: PNBK
Filing Date: 2025-09-02
Form Type: 424B5
Source: 0001437749-25-028162
Chunk: 11

Company: PATRIOT NATIONAL BANCORP INC
Filing Date: 2025-09-02
Form: 424B5
Chunk 11
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 cash dividends in the foreseeable future. Any payment of cash dividends will depend on our financial condition, results of operations, capital requirements and other factors and will be at the discretion of our board of directors. Accordingly, you will have to rely on capital appreciation, if any, to earn a return on your investment in our Common Stock.

<div align='center'>USE OF PROCEEDS</div>

We estimate that the net proceeds from this offering will be approximately $25.3 million, after deducting estimated offering expenses payable by us.

We intend to use the net proceeds from this offering for general corporate purposes, which may include capital expenditures, working capital and general, debt repayment, and administrative expenses.

Our expected use of net proceeds from the sale of Shares of Common Stock in this offering represents our intentions based upon our present plans and business conditions, which could change in the future as our plans and business conditions evolve. The amount and timing of our actual expenditures will depend upon numerous factors, including the results of our operations and the factors described under “Risk Factors” located elsewhere in this prospectus supplement, the accompanying base prospectus and in the information incorporated by reference herein or therein. Management will retain broad discretion over the allocation of net proceeds, and investors will be relying on our judgment regarding the application of the net proceeds from this offering.

<div align='center'>DIVIDEND POLICY</div>

We currently intend to retain all available funds and any future earnings to fund the development of our business, and we do not anticipate paying any cash dividends in the foreseeable future. Any future determinations to pay cash dividends will be made at the discretion of our board of directors, subject to applicable laws, and will depend on a number of factors, including our financial condition, results of operations, capital requirements, contractual restrictions, general business conditions, and any other factors that our board may deem relevant.

<div align='center'>PLAN OF DISTRIBUTION</div>

We are authorized to issue 200,000,000 shares of Voting Common Stock and 30,000,000 shares of Non-Voting Common Stock as well as 1,000,000 shares of preferred stock, no par value per share, or “Preferred Stock,” of which 500,000 shares are designated as Series A Non-Cumulative Perpetual Convertible Preferred Stock, no par value per share, or “Series A Preferred Stock.” Pursuant to a stockholders meeting held on July 7, 2025, our board of directors was authorized to increase the authorized number of shares