Patriot National Bancorp, Inc. and American Challenger Development Corp. announced that they have entered into a definitive agreement (the Merger Agreement) under which Patriot will acquire American Challenger via a reverse subsidiary merger, with American Challenger surviving as a wholly owned subsidiary of Patriot (the "Merger"). Raymond J. Quinlan, Board Member and CEO of American Challenger, will serve as CEO of the combined entity.
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- Patriot National Bancorp and American Challenger Development Corp. Announce Raymond J. Quinlan to Serve as CEO of Combined Entity