Group 1 - RBAZ Bancorp, Inc. has completed the sale of substantially all assets and liabilities of Republic Bank to Pima Federal Credit Union effective May 2, 2025 [1] - Following the asset sale, RBAZ's common stock will no longer trade on the OTC Pink Market, and stock transfer records were closed on May 2, 2025 [1] - The Board of Directors has initiated a plan of dissolution for RBAZ, authorizing a cash distribution of $22.00 per share on a fully-diluted basis, expected to be processed within 30 to 45 days [2] Group 2 - RBAZ may consider a second distribution upon completion of the dissolution process, but the exact amount and timing are uncertain due to various factors [3] - Distributions are contingent upon RBAZ settling its debts, taxes, liabilities, and obligations as per applicable law and the dissolution plan [3] Group 3 - Computershare Trust Company, N.A. is acting as the paying agent for shareholder distributions during the dissolution process [4] - Shareholders holding RBAZ stock in "street name" or book-entry form will not need to take action to receive their distribution, as Computershare will process payments automatically [5][6] - Certificated shareholders will need to surrender their original stock certificates and follow instructions from Computershare to receive their distribution [7]
Dissolution of RBAZ Bancorp, Inc.
GlobeNewswire·2025-05-07 17:54