EFFECT ·Filed May 8, 2026

AROW

ARROW FINANCIAL CORP
NEUTRAL
Impact 5/10
Horizonweeks Processed4mo ago SEC9999999995-26-001541
IPO/offering going effective
Actionable Insight • Neutral

The S-4 effectiveness removes a key regulatory milestone for the pending merger. Watch for the shareholder meeting date and vote results. The stock may trade on deal-odds spreads until closing. Monitor for any competing bids or regulatory pushback.

DirectionNeutral
Confidencehigh
Horizonweeks
Final — all horizons settled through T+60d
AROW ▲ +10.71% at T+60d
NEUTRAL call ✓ call won +10.71% · α vs SPY +5.87% · entry $36.84 → $40.79
Entry anchored
May 8, 2026
via day open
T+1d
-2.05%
call -2.05% · α -2.28%
$36.09
settled 5mo ago
T+5d
-3.02%
call -3.02% · α -4.49%
$35.73
settled 5mo ago
T+20d
+1.67%
call +1.67% · α +1.65%
$37.46
settled 4mo ago
T+60d
+10.71%
call +10.71% · α +5.87%
$40.79
settled 8w ago

Price Chart

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Executive Summary

Arrow Financial Corp's S-4 registration statement covering a merger transaction was declared effective by the SEC on May 7, 2026. This clears a key regulatory hurdle, allowing the company to proceed with the shareholder vote and closing of the acquisition. The effectiveness removes a major uncertainty for the deal timeline.

Key Facts

  • SEC declared S-4 registration statement (File No. 333-295242) effective on May 7, 2026
  • S-4 covers a merger transaction involving Arrow Financial Corp
  • Effectiveness allows the company to mail the definitive proxy/prospectus to shareholders
  • No financial terms of the merger are disclosed in this filing

Financial Impact

No financial figures disclosed in this filing

Risk Factors

  • Shareholder vote could fail, blocking the merger
  • Regulatory approvals beyond SEC effectiveness may still be pending
  • Deal terms could be renegotiated or terminated if material adverse changes occur

Market Snapshot

Exchange
Nasdaq
Sector
National Commercial Banks
Analyst Consensus
0% bullish (6 analysts)

Investment Themes

Traditional Finance

Documents Analyzed

This report is based on 3 SEC documents filed with EDGAR.

DocumentAccession Number
EFFECT Filing (Primary)9999999995-26-001541
Document: 9999999995-26-001541-index.html9999999995-26-001541
Document: 9999999995-26-001541.txt9999999995-26-001541
9 reports for AROW
Performance horizon
100% Hit rate 3 of 3 directional calls best @ T+20▲ +15.40%Jun 3, 2026
Filters
Rows
Reports for AROW — sortable, filterable
TypeNow
Sep 10, 2026
22d ago
8-K
NEUTRAL ★ 3/10
$39.07 $38.12▼ −2.43%▼ −1.93%$37.79 (−3.28%)
Jul 23, 2026
10w ago
8-K
BEARISH ★ 6/10
$39.14 $39.94▼ −2.04%▼ −1.57%$37.79 (+3.45%)
Jul 1, 2026
13w ago
8-K
NEUTRAL ★ 5/10
$42.07 $40.82▼ −2.97%▼ −3.23%$37.79 (−10.17%)
Jun 3, 2026
17w ago
8-K
BULLISH ★ 6/10
$35.78 $38.07▲ +6.40%▲ +10.22%$37.79 (+5.62%)
May 8, 2026
21w ago
EFFECT
NEUTRAL ★ 5/10
$36.84 $35.73▼ −3.02%▼ −4.49%$37.79 (+2.57%)
Apr 30, 2026
22w ago
8-K
NEUTRAL ★ 4/10
$36.55 $36.97▲ +1.16%▼ −0.57%$37.79 (+3.40%)
Apr 23, 2026
23w ago
DEFA14A
NEUTRAL ★ 2/10
$36.24 $36.06▼ −0.49%▼ −1.97%$37.79 (+4.28%)
Mar 27, 2026
27w ago
10-K/A
NEUTRAL ★ 2/10
$32.75 $34.63▲ +5.75%▲ +1.89%$37.79 (+15.40%)
Feb 26, 2026
31w ago
8-K
BULLISH ★ 8/10
$34.02 $32.99▼ −3.02%▼ −1.89%$37.79 (+11.09%)
Showing 9 of 9

US Market Status

Market Closed — Opens Mon (38h 10m)

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