Esquire Financial Holdings, Inc. and Signature Bancorporation Inc. Announce Final Exchange Ratio for Proposed Merger
Esquire Financial Holdings set the final exchange ratio for its merger with Signature Bancorporation at 2.671 shares of Esquire for each share of Signature, an increase from the 2.630 ratio used in pro forma estimates. The adjustment reflects a 62% recovery rate on the sale of Signature's Schedule A Loans, totaling $70 million, which exceeded the 50% recovery rate originally assumed.
Key figures
- Final exchange ratio
- 2.671
- Assumed exchange ratio
- 2.63
- Schedule a loans total
- $70 million
- Additional shares issued
- 54 thousand
- Loan recovery rate actual
- 62.0%
- Loan recovery rate assumed
- 50%
- Esquire shares issued final
- 3.447 million
- Esquire shares issued assumed
- 3.393 million
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