Company: PNBK
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001628280-25-052358
Chunk: 50

Company: PATRIOT NATIONAL BANCORP INC
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 50
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 Voting Common Stock. The Shares will be sold to the Investors at a price per share of $1.25 per Share and the Warrants will be sold to Investors at a price of $0.125 per warrant share. The Warrants are exercisable no earlier than six months after the closing of the Offering at an exercise price of $1.56 per share, subject to increase to as much as $1.685 per share under certain conditions. The proceeds from the Offering, prior to deducting the estimated offering expenses, are expected to be approximately $25.6 million. Estimated offering expenses are $250,000.These transactions affect the weighted average number of shares outstanding.

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Table of ContentsPATRIOT NATIONAL BANCORP, INC. AND SUBSIDIARIES Notes to Consolidated Financial Statements (Unaudited)

The following table summarizes the computation of basic and diluted loss per share for the three and nine months ended September 30, 2025 and 2024, including the effects of the Private Placement.(Net loss in thousands)Three Months Ended September 30,Nine Months Ended September 30,2025202420252024Basis loss per share:Net loss attributable to Common shareholders$(2,654)$(26,954)$(10,432)$(30,334)Divided by:Weighted average shares outstanding99,937,9153,976,07363,946,4273,976,073Basic loss per share of common stock$(0.03)$(6.78)$(0.16)$(7.63)Diluted loss per share:Net loss attributable to Common shareholders$(2,654)$(26,954)$(10,432)$(30,334)Weighted average shares outstanding99,937,9153,976,07363,946,4273,976,073Effect of potentially dilutive restricted shares of common stock— (1)— (2)— (3)— (4)Divided by:Weighted average diluted shares outstanding99,937,9153,976,07363,946,4273,976,073Diluted loss per share of common stock$(0.03)$(6.78)$(0.16)$(7.63)(1)The weighted average diluted shares outstanding does not include 5,809,410 anti-dilutive restricted shares of common stock for the three months ended September 30, 2025.(2)The weighted average