Northern California National Bank Announces Results of Recently Completed Tender Offer by Investors and Reverse Stock Split
CHICO, Calif., July 15, 2021 (GLOBE NEWSWIRE) Northern California National Bank (“NorCal” or the “Bank”) announced today the results of the previously announced cash tender offer by investors seeking to acquire all of the outstanding shares of NorCal (the “Investors”), a planned reverse stock split and closing of its stock transfer records during the pendency of the reverse stock split.
The tender offer expired at 5:00, p.m., Pacific Time, on July 9, 2021. As of the expiration of the tender offer, a total of 1,364,390 shares of NorCal common stock, representing approximately 94.1% of the outstanding NorCal shares, were validly tendered into and not validly withdrawn from the tender offer. On July 14, 2021, the tender offer was consummated with the Investors now owning 94.1% of the outstanding shares of all the voting capital stock of NorCal.