Primis Financial Corp. Announces Plan to Sell Part of Its Stake in Panacea Financial Holdings, Inc., Anticipating $22 Million in Proceeds

Reuters

06-13

<a href="https://laohu8.com/S/FRST">Primis Financial Corp.</a> Announces Plan to Sell Part of Its Stake in Panacea Financial Holdings, Inc., Anticipating $22 Million in Proceeds

Primis Financial Corp. (NASDAQ: FRST) has announced a signed non-binding term sheet to sell a portion of its shares in Panacea Financial Holdings, Inc. This move is expected to generate approximately $22 million in proceeds for Primis and an additional pre-tax gain of between $6.5 and $7.0 million, as the sales price per share surpasses the carrying value as of March 31, 2025. The sale follows the deconsolidation of Panacea Financial Holdings earlier this year. Primis CEO Dennis J. Zember, Jr. highlighted that the proceeds will enable the company to pursue strategies such as a share repurchase program and accelerated growth initiatives. Despite the sale, Primis remains committed to Panacea's long-term potential and its mission to provide tech-enabled financial solutions for doctors nationwide.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Primis Financial Corp. published the original content used to generate this news brief via PR Newswire (Ref. ID: PH09485) on June 12, 2025, and is solely responsible for the information contained therein.

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Announces Plan to Sell Part of Its Stake in Panacea Financial Holdings, Inc., Anticipating $22 Million in Proceeds\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1032215980\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time smaller\">2025-06-13 02:30</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<html xmlns=\"http://www.w3.org/1999/xhtml\" xmlns:newsg2=\"http://iptc.org/std/nar/2006-10-01/\" xmlns:xhtml=\"http://www.w3.org/1999/xhtml\"><head><title>\n      <a href=\"https://laohu8.com/S/FRST\">Primis Financial Corp.</a> Announces Plan to Sell Part of Its Stake in Panacea Financial Holdings, Inc., Anticipating $22 Million in Proceeds\n    </title></head><body><div xmlns:xsd=\"http://www.w3.org/2001/XMLSchema\" xmlns:xsi=\"http://www.w3.org/2001/XMLSchema-instance\">\n<p>\n        Primis Financial Corp. (NASDAQ: FRST) has announced a signed non-binding term sheet to sell a portion of its shares in Panacea Financial Holdings, Inc. This move is expected to generate approximately $22 million in proceeds for Primis and an additional pre-tax gain of between $6.5 and $7.0 million, as the sales price per share surpasses the carrying value as of March 31, 2025. The sale follows the deconsolidation of Panacea Financial Holdings earlier this year. Primis CEO Dennis J. Zember, Jr. highlighted that the proceeds will enable the company to pursue strategies such as a share repurchase program and accelerated growth initiatives. 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