Earnings summaries and quarterly performance for Tectonic Financial.
Research analysts covering Tectonic Financial.
Recent press releases and 8-K filings for TECTP.
Tectonic Financial Announces Preferred Stock Redemption, Nasdaq Delisting, and SEC Deregistration
TECTP
Delisting/Listing Issues
Convertible Preferred Issuance
- Tectonic Financial, Inc. announced its intention to redeem all 1,725,000 outstanding shares of its 9.00% Fixed-to-Floating Rate Series B Non-Cumulative Perpetual Preferred Stock (TECTP) at a redemption price of $10.00 per share plus declared and unpaid dividends, with a redemption date of February 17, 2026.
- This redemption is conditioned upon obtaining the requisite funding.
- As a result of the redemption, the Company plans to delist its Preferred Stock from The NASDAQ Stock Market LLC and deregister it with the U.S. Securities and Exchange Commission (SEC), with the last trading day on NASDAQ expected around February 17, 2026.
- The Company anticipates filing a Form 15 around February 27, 2026, which will suspend its periodic reporting obligations, and expects to no longer be a public reporting company around May 28, 2026, leading to significant cost savings.
Jan 15, 2026, 10:14 PM
Tectonic Financial, Inc. to Spin Off Tectonic Advisors, LLC, Plans Debt Repayment and Shareholder Returns
TECTP
M&A
Debt Issuance
Share Buyback
- Tectonic Financial, Inc. (Parent) entered into a Separation Agreement and Plan of Distribution on December 19, 2025, to separate Tectonic Advisors, LLC (Spinco) and distribute 100% of Spinco's equity interests to TA Continuing Shareholders.
- The transaction involves TA Continuing Shareholders exchanging 1.53 million shares of Tectonic Financial common stock (representing 22.25% of outstanding shares) for Spinco's membership interests.
- Spinco will issue a $35 million promissory note to Parent, which will be refinanced immediately after the distribution. Tectonic Financial, Inc. intends to use these $35 million proceeds for general corporate purposes, including potentially repaying $12 million in subordinated debt, redeeming $17.25 million in Series B Preferred Stock, and repurchasing common stock.
- The separation and distribution are intended to be tax-free for U.S. federal income tax purposes to the Company and TA Continuing Shareholders, except for the cash proceeds received by the Company.
Dec 19, 2025, 10:01 PM
Ask Fintool AI Agent
Get instant answers from SEC filings, earnings calls & more