MergerOct 1, 2026, 08:31 AM
NSTS Bancorp Merges into Brookfield; Stock Delisted from Nasdaq
AI Summary
NSTS Bancorp, Inc. has completed its merger with Brookfield, with NSTS Bancorp ceasing to exist as a separate entity. Shareholders received $14.31 per share in cash, totaling $73,662,000 in aggregate merger consideration for common stock, restricted stock, and stock options. As a result of the merger, the company's common stock was delisted from the Nasdaq Capital Market. Key personnel, including Stephen G. Lear and Apolonio Arenas, will continue on the Bank's board, with Amy Avakian also appointed to the board.
Key Highlights
- NSTS Bancorp merged with Merger Sub, then into Brookfield, ceasing to exist as a separate entity.
- Shareholders received $14.31 per share in cash for common stock.
- Aggregate merger consideration paid to all security holders totaled $73,662,000.
- Company's common stock delisted from Nasdaq Capital Market effective September 30, 2026.
- Stephen G. Lear and Apolonio Arenas will remain on the Bank's board of directors.
- Amy Avakian was appointed to the Bank's board of directors.
Price Impact
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