Company sells its common stock at $3.80 per share through offering
By Devika Patel
Knoxville, Tenn., April 22 - Republic First Bancorp, Inc. said it completed a $45 million private placement of stock. The original offering amount of $25 million was increased by $20 million due to the significant level of interest.
The company sold 11,842,106 common shares at $3.80 apiece. The per-share price reflects an 8.87% discount to the closing share price, $4.17, on April 21.
Republic First Bancorp is a Philadelphia-based bank holding company.
| Issuer: | Republic First Bancorp, Inc.
|
| Issue: | Common stock
|
| Amount: | $45 million
|
| Shares: | 11,842,106
|
| Price: | $3.80
|
| Warrants: | No
|
| Settlement date: | April 22
|
| Stock symbol: | Nasdaq: FRBK
|
| Stock price: | $4.17 at close April 21
|
| Market capitalization: | $111.94 million
|
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