P&F INDUSTRIES, INC. TO BE ACQUIRED BY SHOREVIEW INDUSTRIES FOR $13.00 PER SHARE

MELVILLE, N.Y., Oct. 13, 2023 /PRNewswire/ -- P&F Industries, Inc. ("P&F" or the "Company") (NASDAQ: PFIN) today announced that it has entered into a definitive agreement to be acquired by ShoreView Industries ("ShoreView") in an all-cash transaction for $13.00 per share. The purchase price represents an approximately 97% premium to the closing stock price of the Company's stock on October 12, 2023, the last trading day prior to announcing the transaction.

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