Company: PNBK
Filing Date: 2025-09-02
Form Type: 424B5
Source: 0001437749-25-028162
Chunk: 12

Company: PATRIOT NATIONAL BANCORP INC
Filing Date: 2025-09-02
Form: 424B5
Chunk 12
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 of Common Stock under our certificate of incorporation to as many as 2,000,000,000 shares.

As of August 28, 2025, and prior to the Offering, an aggregate of 88,528.457 shares of voting Common Stock and 7,266,560 shares of Non-Voting Common Stock were issued and outstanding. In addition, prior to this Offering, warrants to purchase 107,724,457 shares of Common Stock and 15,280 shares of Common Stock issuable upon vesting of outstanding restricted stock awards were issued and outstanding.

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We entered into a stock purchase agreement, referred to as the “Stock Purchase Agreement, dated as of August 29, 2025, directly with the purchasers in connection with this offering and a separate warrant purchase agreement referred to as the “Warrant Purchase Agreement, with certain of the purchasers also dated as of August 29, 2025, which Stock Purchase Agreement and Warrant Purchase Agreement we collectively refer to the “Purchase Agreements.” The Purchase Agreements shall only be deemed effective and delivered, and we will only sell Shares of Common Stock and Warrants to investors who have entered into the Purchase Agreements with us following the date of this prospectus supplement. We expect to close the Offering and deliver 19,196,000 Shares of Voting Common Stock and 12,789,103 Warrants to purchasers on or about September 3, 2025, subject to satisfaction of certain closing conditions.

Shares being offered pursuant to this prospectus supplement and the accompanying prospectus include the 19,196,000 Shares of our Voting Common Stock and 12,789,103 shares of Non-Voting Common Stock issuable upon exercise of Warrants and also include the shares of Voting Common Stock issued to purchasers upon exercise of the Warrant who thereafter elect to exchange their Non-Voting Common Stock into Voting Common Stock, subject to such purchasers or their assignees satisfying the Non-Control Conditions. We are not offering for sale under this prospectus supplement and the accompanying prospectus the Warrants but are offering the shares of Non-Voting Common Stock and Voting Common Stock issuable upon exercise of Warrants pursuant to this prospectus supplement and the accompanying prospectus.

The offering price of $1.25 per Share of the Shares, the $0.125 offering price of the Warrants and the exercise price of the Warrants was negotiated between us and the purchasers. The Shares of Common Stock and Warrants are being sold