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Primis Financial Reports Signed Non-Binding Term Sheet To Sell Portion Of Its Ownership In Panacea Financial Holdings; Expects Proceeds Of ~$22M To The Company

Author: Benzinga Newsdesk | June 12, 2025 02:33pm

Primis Financial Corp. (NASDAQ:FRST) ("Primis" or the "Company") today reported a signed non-binding term sheet to sell a portion of its ownership in Panacea Financial Holdings, Inc. ("PFH" or "Panacea"). This proposed sale follows the deconsolidation of PFH at March 31, 2025 and is expected to generate proceeds to the Company of approximately $22 million. Additionally, the Company expects to record an additional gain of between $6.5 and $7.0 million pre-tax as the sales price per share exceeded the carrying value as of March 31, 2025.

Posted In: FRST


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