MainStreet Bancshares Declares Quarterly Cash Dividend on Series A Preferred Stock; Singular Genomics Acquisition Finalized

MainStreet Bancshares, Inc. (NASDAQ: MNSB) announced on February 27, 2025, that its Board of Directors has declared a quarterly cash dividend on the outstanding shares of its 7.50% Series A Fixed-Rate Non-Cumulative Perpetual Preferred Stock. The declared dividend amounts to approximately $0.47 per Depositary Share—or $18.75 per share of Series A Preferred Stock. The dividend is scheduled to be paid on March 30, 2025, to shareholders of record as of the close of business on March 14, 2025. In addition, the company outlined that future dividend payments for both the Series A Preferred Stock and its associated Depositary Shares will be made quarterly, in arrears, on March 30, June 30, September 30, and December 30 each year. The Depositary Shares currently trade on the Nasdaq Capital Market under the symbol “MNSBP.”

In a related filing exhibit, the attached press release details the closing of the acquisition of Singular Genomics Systems, Inc. (Nasdaq: OMIC) by an affiliate of Deerfield Management Company, L.P. On February 21, 2025, Singular Genomics announced that the transaction—originally approved by the company’s stockholders on February 19, 2025—had been finalized. According to the terms of the acquisition, Deerfield acquired all outstanding shares not already owned by its affiliate for $20.00 per share in cash. With the closing of the deal, Singular Genomics has become a private company, and trading of its common stock on Nasdaq has been suspended pending a delisting request. The restructuring also saw significant leadership changes, including the appointment of Josh Stahl as Chief Executive Officer and a reshaped board composition.

Both developments mark key corporate actions for the respective companies as they address dividend policies and strategic acquisitions in their ongoing business operations.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read MainStreet Bancshares’s 8K filing here.

MainStreet Bancshares Company Profile

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MainStreet Bancshares, Inc operates as the bank holding company for MainStreet Bank that provides various banking products and services for individuals, small to medium-sized businesses, and professional service organizations. The company offers demand, NOW, money market, savings, and sweep accounts, as well as certificates of deposit; business and consumer checking, interest-bearing checking, business account analysis, and other depository services; and cash management, wire transfer, check imaging, bill pay, remote deposit capture, and courier services.

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