By Devika Patel
Knoxville, Tenn., Dec. 15 - First Bank raised $19 million in a private placement of units.
The company sold units of one common share and one quarter-share warrant at $7.90 apiece.
Each whole warrant is exercisable at $9.00 for five years.
First Bank is based in Ewing, N.J.
| Issuer: | First Bank
|
| Issue: | Units of one common share and one quarter-share warrant
|
| Amount: | $19 million
|
| Price: | $7.90
|
| Warrants: | One quarter-share warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $9.00
|
| Settlement date: | Dec. 15
|
| Stock symbol: | OTCBB: FRBA
|
| Stock price: | $4.40 at close Dec. 12
|
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