December 21, 2022
Brunswick Bancorp Investigation
We are investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Brunswick Bancorp (“Brunswick” or the “Company”)(OTC: BRBW) in connection with the proposed acquisition of the Company by Mid Penn Bancorp, Inc. (“Mid Penn”) (NASDAQ: MPB). Under the merger agreement, Brunswick shareholders will have the option to elect to receive either 0.598 shares of Mid Penn common stock, representing implied per-share consideration of $9.84 based upon Mid Penn’s December 20, 2022 closing price of $16.45, or $18.00 in cash for each common share of Brunswick they own, subject to proration to ensure that, in the aggregate, 50% of the transaction consideration will be paid in the form of Mid Penn common stock.
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