Dissolution of RBAZ Bancorp, Inc.
RBAZ Bancorp has announced the completion of its asset sale to Pima Federal Credit Union effective May 2, 2025. The company has delisted from the OTC Pink Market and initiated a dissolution plan. As part of this process, RBAZ's Board has authorized a cash distribution of $22.00 per share to shareholders, expected to be processed within 30-45 days.
The distribution process varies based on how shares are held: street name holders and book-entry shareholders will receive automatic payments, while certificated shareholders must surrender their certificates and complete transmittal documents. While a second distribution is possible upon completion of the dissolution, its occurrence and amount remain uncertain, subject to remaining funds after settling all debts, taxes, and obligations.
RBAZ Bancorp ha annunciato il completamento della vendita dei suoi asset a Pima Federal Credit Union, effettiva dal 2 maggio 2025. La società si è ritirata dal mercato OTC Pink e ha avviato un piano di liquidazione. Nell'ambito di questo processo, il Consiglio di Amministrazione di RBAZ ha autorizzato una distribuzione in contanti di 22,00 USD per azione agli azionisti, che si prevede venga effettuata entro 30-45 giorni.
Il processo di distribuzione varia in base alla modalità di detenzione delle azioni: i titolari in nome di intermediari e gli azionisti con registrazione elettronica riceveranno pagamenti automatici, mentre gli azionisti con certificati devono consegnare i certificati e compilare i documenti di trasmissione. Sebbene sia possibile una seconda distribuzione al completamento della liquidazione, la sua realizzazione e l'importo rimangono incerti, dipendenti dai fondi residui dopo il pagamento di tutti i debiti, tasse e obbligazioni.
RBAZ Bancorp ha anunciado la finalización de la venta de sus activos a Pima Federal Credit Union, con efecto a partir del 2 de mayo de 2025. La empresa se ha retirado del mercado OTC Pink y ha iniciado un plan de disolución. Como parte de este proceso, la Junta Directiva de RBAZ ha autorizado una distribución en efectivo de 22,00 USD por acción a los accionistas, que se espera se procese dentro de 30-45 días.
El proceso de distribución varía según la forma en que se posean las acciones: los titulares en nombre de intermediarios y los accionistas con registro electrónico recibirán pagos automáticos, mientras que los accionistas con certificados deben entregar sus certificados y completar los documentos de transmisión. Aunque es posible una segunda distribución al completar la disolución, su ocurrencia y monto son inciertos, sujetos a los fondos restantes después de saldar todas las deudas, impuestos y obligaciones.
RBAZ Bancorp는 2025년 5월 2일부로 Pima Federal Credit Union에 자산 매각을 완료했다고 발표했습니다. 회사는 OTC Pink 시장에서 상장 폐지되었으며 해산 계획을 시작했습니다. 이 과정의 일환으로 RBAZ 이사회는 주주들에게 주당 22.00달러 현금 배당을 승인했으며, 30~45일 내에 처리될 예정입니다.
배당 절차는 주식 보유 방식에 따라 다릅니다: 명의 개서 주주와 전자등록 주주는 자동으로 지급받으며, 증서 보유 주주는 증서를 제출하고 송금 서류를 작성해야 합니다. 해산 완료 후 두 번째 배당이 가능할 수 있으나, 발생 여부와 금액은 모든 부채, 세금 및 의무를 정산한 후 남은 자금에 따라 불확실합니다.
RBAZ Bancorp a annoncé la finalisation de la vente de ses actifs à Pima Federal Credit Union, effective au 2 mai 2025. La société s’est retirée du marché OTC Pink et a lancé un plan de dissolution. Dans le cadre de ce processus, le conseil d’administration de RBAZ a autorisé une distribution en espèces de 22,00 USD par action aux actionnaires, qui devrait être effectuée dans un délai de 30 à 45 jours.
Le processus de distribution varie selon la manière dont les actions sont détenues : les détenteurs en nom de tiers et les actionnaires inscrits en compte recevront des paiements automatiques, tandis que les actionnaires détenteurs de certificats doivent remettre leurs certificats et remplir des documents de transmission. Bien qu’une seconde distribution soit possible à l’issue de la dissolution, sa réalisation et son montant restent incertains, dépendant des fonds restants après le règlement de toutes les dettes, taxes et obligations.
RBAZ Bancorp hat den Abschluss des Verkaufs seiner Vermögenswerte an Pima Federal Credit Union zum 2. Mai 2025 bekannt gegeben. Das Unternehmen wurde vom OTC Pink Market delistet und hat einen Auflösungsplan eingeleitet. Im Rahmen dieses Prozesses hat der Vorstand von RBAZ eine Barausschüttung von 22,00 USD pro Aktie an die Aktionäre genehmigt, die voraussichtlich innerhalb von 30-45 Tagen ausgezahlt wird.
Der Ausschüttungsprozess variiert je nach Art der Aktienhaltung: Namensaktieninhaber und Buchaktien erhalten automatische Zahlungen, während Inhaber von Zertifikaten ihre Zertifikate einreichen und Übertragungsdokumente ausfüllen müssen. Eine zweite Ausschüttung ist nach Abschluss der Auflösung möglich, deren Eintritt und Höhe jedoch ungewiss sind und von verbleibenden Mitteln nach Begleichung aller Schulden, Steuern und Verpflichtungen abhängen.
- Shareholders will receive a significant cash distribution of $22.00 per share
- Distribution payment expected within a relatively short timeframe (30-45 days)
- Possibility of a second distribution after dissolution completion
- Company is dissolving and delisting from OTC Pink Market
- No guarantee of sufficient funds for a second distribution
- Shareholders with certificated shares face additional paperwork requirements
PHOENIX, May 07, 2025 (GLOBE NEWSWIRE) -- RBAZ Bancorp, Inc. (“RBAZ”), the holding company of Republic Bank of Arizona (“Republic Bank”), today announced it completed the sale of substantially all of the assets and liabilities of Republic Bank to Pima Federal Credit Union effective May 2, 2025 (the “Asset Sale”). RBAZ caused its common stock to no longer trade or be quoted on the OTC Pink Market and closed its stock transfer records at the close of market hours on May 2, 2025.
RBAZ also announced today that its Board of Directors effected a plan of dissolution for the winding up and liquidation of RBAZ. As part of the dissolution process, the Board of Directors authorized a cash distribution of
RBAZ may make a second distribution in connection with the completion of the dissolution process. However, due to a significant number of variables, RBAZ cannot determine at this time the exact amount of any future distribution or when any such distribution would be made, if at all. There is no guarantee that sufficient funds will remain following the dissolution of RBAZ and Republic Bank to make another distribution. Distributions are subject to RBAZ paying or providing for its debts, taxes, liabilities and obligations in accordance with applicable law and the plan of dissolution.
Computershare Trust Company, N.A. (“Computershare”), RBAZ’s stock transfer agent, is acting as paying agent for distributions to shareholders in the dissolution process. Computershare will process distributions as described below.
Shares Held in “Street Name.” If your shares of RBAZ common stock are held in “street name” through a broker, bank or other nominee, there is nothing you need to do to receive your distribution and you will not receive transmittal documents. Computershare will automatically process your payment in coordination with your broker, bank or nominee following RBAZ’s authorization of a distribution.
Book-Entry Shares. If your shares of RBAZ common stock are held in book entry form, which means that your ownership is recorded with Computershare electronically without paper stock certificates, there is nothing you need to do to receive your distribution and you will not receive transmittal documents. Computershare will automatically process your payment following RBAZ’s authorization of a distribution.
Certificated Shares. If your shares of RBAZ common stock are certificated, then you will be required to surrender your original stock certificate(s) and return certain transmittal documents in order to receive your distribution. In the coming weeks, you will receive transmittal documents from Computershare that will contain instructions for surrendering your stock certificate(s) and receiving your distribution.
Forward-Looking Statements
Certain statements contained in this press release may be considered “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995, as amended. These forward-looking statements may be identified by their reference to a future period or periods or by the use of forward-looking terminology such as “anticipate,” “believe,” “estimate,” “expect,” “may,” “might,” “will,” “would,” “could,” or “intend.” Forward-looking statements, by their nature, are subject to risks and uncertainties. A number of factors – many of which are beyond the control of RBAZ – could cause actual conditions, events or results to differ materially from those anticipated, discussed, projected, expressed or implied by forward-looking statements. We caution you not to place undue reliance on the forward-looking statements contained in this press release. Factors that could cause actual results to differ materially from the expectations of RBAZ and Republic Bank include the nature and amount of the liabilities remaining at RBAZ and Republic Bank following the Asset Sale, including material federal income tax liabilities, the results of any litigation involving RBAZ and Republic Bank, and the amount of costs and expenses associated with dissolving RBAZ and Republic Bank, all of which must be satisfied or provided for before RBAZ may distribute its residual assets to its shareholders. Forward-looking statements speak only as of the date they are made. RBAZ and Republic Bank do not undertake any obligation to update publicly or revise any forward-looking statements because of new information, future events or otherwise.
Contact: Brian Ruisinger
President and Chief Executive Officer
Phone: (602) 280-9404
Email: bruisinger@republicaz.com
FAQ
What is the cash distribution amount for RBAZ shareholders?
When did RBAZ Bancorp complete its asset sale to Pima Federal Credit Union?
Will RBAZ shareholders receive a second distribution?
What do RBAZ shareholders need to do to receive their distribution?
When did RBAZ stock stop trading on the OTC Pink Market?
