Third Coast Files Full Great Plains Merger Agreement: Fixed 5.57M-Share Exchange, $12M Termination Fee
TCBX sits 17% above its 52-week low of $35.73.
Summary
Third Coast filed the full merger agreement for its Great Plains acquisition, revealing a fixed 5.57M-share exchange ratio, $153.3M minimum equity condition, $12M termination fee, and two new board seats.
Key Events · M&A and Partnerships · TCBX
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Full Merger Agreement Filed
The complete Agreement and Plan of Reorganization for Third Coast's acquisition of Great Plains Bancshares has been filed, with a fixed exchange ratio of 5,570,352 TCBX shares for all outstanding Great Plains stock.
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Deal Value and Equity Condition
At the current $41.78 share price, the fixed share consideration is worth approximately $232.7 million. The agreement includes a $153.3 million minimum adjusted equity condition, with the exchange ratio reduced if Great Plains falls short.
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Termination Fee and Outside Date
Great Plains would pay an $11,981,827 termination fee under certain circumstances, including alternative acquisition proposals. The deal has a September 30, 2027 outside date.
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Board Seats and Voting Agreements
Two Great Plains directors, Todd Taylor and Paul M. Dickinson, will join the TCBX board at closing. Shareholders holding approximately 27.6% of Great Plains stock have signed voting agreements supporting the merger.
Analysis · TCBX · Finance
The complete Agreement and Plan of Reorganization for Third Coast Bancshares' acquisition of Great Plains Bancshares has been filed, adding material deal terms not in the October 7 summary disclosures. The fixed exchange ratio of 5,570,352 TCBX shares values the deal at approximately $232.7 million at the current $41.78 share price, consistent with the previously reported ~$239.6 million. The agreement includes a $153.3 million minimum adjusted equity condition with a share-count reduction mechanism if Great Plains falls short, a $11.98 million termination fee, and a September 30, 2027 outside date. Two Great Plains directors will join the TCBX board, and shareholders holding 27.6% of Great Plains stock have signed voting agreements. The deal remains subject to shareholder and regulatory approvals.
How filings like this one have moved
In the 30 days to Oct 13, 2026, 36.5% of the 995 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.63%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, TCBX was trading at $41.78 on NYSE in the Finance sector, with a market capitalization of approximately $695.8M. The 52-week trading range was $35.73 to $46.36. This filing was assessed with neutral market sentiment and an importance score of 8 out of 10.