SHAREHOLDER NOTICE: Brodsky & Smith Announces an Investigation of Professional Holding Corp. (Nasdaq – PFHD)

BALA CYNWYD – August 8, 2022 /Globe Newswire/ – Law office of Brodsky & Smith announces that it is investigating potential claims against the Board of Directors of Professional Holding Corp. (“Professional” or the “Company”) (Nasdaq – PFHD) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the Company’s agreement to be acquired by Seacoast Banking Corporation of Florida (“Seacoast”) (Nasdaq -SBCF). Under the terms of the acquisition agreement, Professional shareholders are to receive 0.8909 shares of Seacoast common stock for each share of Professional common stock. The exchange ratio for the transaction is fixed, which means that the transaction value will fluctuate as a result of changes in Seacoast’s stock price. Based on Seacoast’s closing price of $36.75 per share on August 5, 2022, the implied consideration is $32.74 per share and the transaction is valued at approximately $488.6 million.

The investigation concerns whether the Professional Board breached its fiduciary duties to shareholders by failing to conduct a fair process, and whether Seacoast paying too little for the Company.

If you own shares of Professional stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire, or Marc L. Ackerman, Esquire at Brodsky & Smith, Two Bala Plaza, Suite 805, Bala Cynwyd, PA 19004, or call toll free 855-576-4847.

Brodsky & Smith is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.