Company: PNBK
Filing Date: 2025-09-02
Form Type: 424B5
Source: 0001437749-25-028162
Chunk: 8

Company: PATRIOT NATIONAL BANCORP INC
Filing Date: 2025-09-02
Form: 424B5
Chunk 8
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uable upon conversion of Series A preferred stock, no par value per share, of the Company (“Series A Preferred Stock”) or such amount of the Voting Common Stock or Non-Voting Common Stock (including Non-Voting Common Stock issuable upon conversion of Series A Preferred Stock or exercise of the Warrants ) that would constitute “control” under the BHC Act or the CIBC Act on a post transaction basis that assumes that such Closing shall have occurred (the “Non-Control Conditions”). |
| Use of proceeds                                                                  | We estimate that the net proceeds from this offering will be approximately $25.3 million, after deducting estimated offering expenses payable by us. If the Warrants are fully exercised we will receive approximately an additional $19,951,000 in net proceeds. We intend to use the net proceeds from this offering for general corporate purposes, which may include capital expenditures, working capital and general and administrative expenses. See “Use of Proceeds” on page S-4 of this prospectus supplement for a more complete description of the intended use of proceeds from this offering. Additionally, the Company has provided notice to all holders of our outstanding Senior Notes that we intend to repay the Notes on or about September 5, 2025 using cash on hand.                                                                                                                                                                                                                                                                  |
| Risk factors                                                                     | Investing in our Common Stock involves a high degree of risk. See the information contained in or incorporated by reference under the heading “Risk Factors” on page S-3 of this prospectus supplement, on page 4 in the accompanying prospectus and in the documents incorporated by reference into this prospectus supplement and the accompanying prospectus.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| Nasdaq Global Market symbol                                                      | “PNBK”                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |

The number of shares of our Common Stock to be outstanding after this offering is based on 95,795,017 shares of Common Stock outstanding as of August 28, 2025 and 114,991,017 shares of Common Stock to be outstanding on conclusion of the Offering, and excludes, as of that date, the 12,789,103 Warrant Shares and the following:

| ● | 4,106,904 shares of Common Stock issuable upon the conversion of Senior Notes with a weighted average conversion price of $0.75 per share, which, as stated above, we intend to pay such Senior Notes in full prior to conversion on or about Sept 4/5, 2025; and |

| ● | 15,280 shares