Based on the election results and applying the allocation and proration provisions set forth in the merger agreement, NUVO shareholders will receive the following merger consideration in cancellation of their shares of NUVO common stock:
2416 shares of Merchants common stock for each NUVO share for which they made a valid stock election;
NUVO shareholders have an option to elect to receive, for each share of NUVO common stock, 0.
NUVO Bank & Trust Company is a Massachusetts-chartered commercial bank headquartered in Springfield, Massachusetts.
Most importantly, NUVO
Bank & Trust Company is state chartered and is a member of the Federal Deposit Insurance Corporation and the Certificate of Deposit Account Registry Service, and is an Equal Housing Lender.
About NUVO Bank & Trust Company Founded in 2008, NUVO Bank & Trust Company is a Massachusetts-chartered commercial bank headquartered in Springfield, Massachusetts.
In connection with the proposed merger, Merchants filed a Registration Statement on Form S-4 with the Securities and Exchange Commission ("SEC") that included a prospectus of Merchants, which also constituted a proxy statement of NUVO for a special meeting of shareholders held on September 30, 2015 at which the merger was approved.
The shareholders of NUVO approved the Merger Agreement by the affirmative vote of the holders of 84.
Under the terms of the Merger Agreement, shareholders of NUVO will be entitled to elect to receive either 0.
Headquartered in Springfield, Massachusetts, NUVO is focused on providing business loans, deposits and cash management services to small and medium-sized businesses and individuals in western Massachusetts.
We are excited to enter the greater Springfield, Massachusetts market through a combination with NUVO Bank & Trust," said Michael R.
As I tell the team, NUVO
is the stage—now how are you going to perform?