Under the terms of agreement, ATMI will be acquired by PSMH and become a wholly owned subsidiary of PrimeSource Mortgage, Inc. (PSMI), the mortgage banking subsidiary of PSMH.
Upon the closing of the transaction, ATMI shareholders will receive common shares from PSMH. This acquisition will further expand the PSHM’s national footprint throughout the New England states. Also at closing, Paul Mignone, the primary shareholder, will join the board of directors of PSMH.
The transaction is subject to further negotiations and the execution of a definitive agreement between the parties. The transaction is expected to be closed in the next 40 days.
PSMI president Jeff Smith said that this ATMI is a quality operation that will be a significant part of the new mortgage banking network. In addition, having Paul join the management team will be invaluable to the growth in the very near future.
