PHILADELPHIA, June 1 /PRNewswire-FirstCall/ -- Republic First
Bancorp, Inc. (Nasdaq: FRBK), the holding company for Republic
First Bank, announced today that it has commenced an underwritten
public offering of up to $30 million
of its common stock pursuant to a registration statement filed with
the Securities and Exchange Commission. Republic First
Bancorp, Inc. intends to grant to the underwriters a 30-day option
to purchase additional shares of common stock. Sandler
O'Neill + Partners, L.P. and RBC Capital Markets Corporation are
acting as co book running managers for the securities offering.
Republic First Bancorp, Inc. offers a variety of retail and
commercial banking services to individuals and businesses
throughout the Greater
Philadelphia and Southern New
Jersey area through Republic First Bank, from eleven store
locations in Philadelphia,
Montgomery and Delaware Counties in Pennsylvania, and one in Camden County, New Jersey. The company
intends for the bank to use the proceeds from the proposed
securities offering for general corporate purposes, including
implementing the bank's retail and rebranding strategies, and
improving its branches and adding branch locations.
A registration statement relating to these securities has been
filed with the Securities and Exchange Commission but has not yet
become effective. These securities may not be sold nor may
offers to buy be accepted prior to the time the registration
statement becomes effective.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any of the securities, nor shall
there be any sale of these securities in any state or jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any
such state or jurisdiction. The offering will be made only by
means of a prospectus. A written prospectus for the offering
may be obtained from Sandler O'Neill + Partners, L.P., 919 Third
Avenue, 6th Floor, New York, NY
10022, (866) 805-4128 or from RBC Capital Markets, Three World
Financial Center, 200 Vesey Street, 8th Floor, New York, NY 10281-8098, Attention: Equity
Syndicate or by faxing (212) 428-6260 or calling (212) 428-6670 .
An electronic copy of the prospectus is included in the
registration statement and is available on the web site of the
Securities and Exchange Commission at
http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000834285.
About Republic First Bank
Republic First Bank is a full-service, state-chartered
commercial bank, whose deposits are insured up to the applicable
limits by the Federal Deposit Insurance Corporation. The Bank
provides diversified financial products through its twelve offices
located in Abington, Ardmore, Bala
Cynwyd, Plymouth Meeting,
Media and Philadelphia, Pennsylvania and Voorhees, New Jersey.
Forward Looking Statements
The Company may from time to time make written or oral
"forward-looking statements", including statements contained in
this release and in the Company's filings with the Securities and
Exchange Commission. These forward-looking statements include
statements with respect to the Company's beliefs, plans,
objectives, goals, expectations, anticipations, estimates, and
intentions that are subject to significant risks and uncertainties
and are subject to change based on various factors, many of which
are beyond the Company's control. These risks and uncertainties
include the risk that the registration statement never becomes
effective and we are not able sell or accept offers to buy
securities in connection with the registration statement, as well
as other risk factors detailed from time to time in the Company's
filings with the Securities and Exchange Commission. The words
"may", "could", "should", "would", "believe", "anticipate",
"estimate", "expect", "intend", "plan", and similar expressions are
intended to identify forward-looking statements. All such
statements are made in good faith by the Company pursuant to the
"safe harbor" provisions of the Private Securities Litigation
Reform Act of 1995. The Company does not undertake to update any
forward-looking statement, whether written or oral, that may be
made from time to time by or on behalf of the Company, except as
may be required by applicable law or regulations.
SOURCE Republic First Bancorp, Inc.