Esquire Financial Holdings Enters Definitive Merger Agreement With Signature Bancorporation; Signature Shareholders To Receive 2.63 Shares Of Esquire Per Share Of Signature; Transaction Expected To Close Q3 2026
Benzinga Newsdesk 7 months ago
M&ANews
Under the terms of the merger agreement, shareholders of Signature will receive a fixed exchange ratio of 2.63 shares of Esquire common stock for each share of Signature common stock. The per share value equates to
Under the terms of the merger agreement, shareholders of Signature will receive a fixed exchange ratio of 2.63 shares of Esquire common stock for each share of Signature common stock. The per share value equates to $260.48 for Signature shareholders based on the closing price of Esquire common stock on March 11, 2026, or approximately $348.4 million in aggregate transaction value.
The exchange ratio is subject to an adjustment based on the disposition value of certain Signature Bank loans with a total par value of approximately $70M ("Schedule A Loans"). The adjusted Exchange Ratio at closing will be no higher than 2.80 and no lower than 2.50. Signature has initiated a sale process and is expected to dispose of Schedule A Loans prior to closing.