Hanover Bancorp’s November investor presentation references a proposed acquisition of Minden and a separate private placement. The acquisition still requires regulatory approval, approval from Minden shareholders and other customary closing conditions.
- The private placement is separate from the acquisition: It is not conditional on the acquisition closing, so it could proceed even if the acquisition does not.
- Closing conditions remain: The acquisition cannot be completed until the required approvals and other conditions are satisfied.
- Key terms are not provided in the presentation material available here: It does not specify the acquisition price, the size or terms of the private placement, or an expected closing date.
The presentation therefore describes two distinct transactions, with the private placement not dependent on completion of the Minden acquisition.