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Ademi LLP is investigating LINKBANCORP (NASDAQ: LNKB) for possible breaches of fiduciary duty and other violations of law in its transaction with Partners.

Ademi LLP alleges LINKBANCORP’s financial outlook and prospects are excellent and yet upon completion of the transaction, LINKBANCORP shareholders will own approximately 44% of the combined company.  The transaction is valued at approximately $167.8 million, based on LINKBANCORP's 10-day volume-weighted average price of $8.08 as of February 21, 2023. The transaction agreement unreasonably limits competing bids for LINKBANCORP by imposing a significant penalty if LINKBANCORP accepts a superior bid. LINKBANCORP insiders will receive substantial benefits as part of change of control arrangements.

We are investigating the conduct of LINKBANCORP’s board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for LINKBANCORP.