Corporate ActionMay 1, 2026, 10:06 AM
USCB Terminates Side Letter Agreement with Patriot Financial
AI Summary
USCB Financial Holdings, Inc. and U.S. Century Bank mutually terminated the Side Letter Agreement dated December 30, 2021, with Patriot Financial Partners II, L.P. and Patriot Financial Partners Parallel II, L.P. This termination applies solely to Patriot, while the terms related to Priam Capital Fund II, LP remain in effect. The termination follows the resignation of Patriot's representative, W. Kirk Wycoff, from the Company's and Bank's Boards of Directors on April 6, 2026. Patriot continues to beneficially own 10.2% of USCB's Class A Voting Common Stock and remains a party to the Registration Rights Agreement.
Key Highlights
- USCB and Patriot Financial Partners mutually terminated their Side Letter Agreement.
- The termination applies solely to Patriot Financial Partners.
- Patriot's representative, W. Kirk Wycoff, resigned from USCB's Boards on April 6, 2026.
- Patriot beneficially owns 10.2% of USCB's Class A Voting Common Stock.
- Side Letter Agreement terms with Priam Capital Fund II, LP remain in full force and effect.
- Patriot remains a party to the Registration Rights Agreement.
Price Impact
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