Fund reiterate its $3.25
offer-also propose the bank merge with a Minority Broker Dealer
NEW
YORK, Jan. 25, 2024 /PRNewswire/ -- On
January 24, 2024, Dream Chasers met
with the Board of Directors of Nasdaq listed Carver Bancorp
The fund made the following ask at its meeting with the
Board:
- That the bank and Dream Chases start the immediate drafting of
a Share Purchase Agreement for the acquisition of 35% of the common
shares of Carver Bancorp stock.
- Propose a merger between Carver Bancorp and an already
identified Wall Street based minority owned broker dealer –a
transaction it believes would instantly transform the bank from a
75-year-old depository institution into a more full-service
financial service company offering minority communities more wealth
building services brokerage account which would give the banks
customers the ability to now buy and sell Stocks, Options, Efts ,
Bonds, and also raise money to finance business start-ups and
expansions.
- Ending its reliance on sending its customers to get mortgages
and payments services like Zelle offered by competitors like
JP Morgan and Morgan Stanley and instead start originating more of
those services inhouse thus keeping most of the potential revenues
or profits for itself.
- Award several board seats to Dream Chaser Capital and
partners.
- Accept a Stock option buyout grant program for some or all
Board members.
- Appoint certain Dream Chasers recommend personnel to its
management team
Dream Chasers gave the Board a definitive period to act.
Dream Chasers want to say the following to the banks board:
Shareholders own companies and their interest should always come
first.
That a company can serve its community and make money at the
same time
Management and boards of public companies should have skin in
the game.
Major shareholders earn a right to be on the Boards of companies
to advocate for all shareholders
Current stock market shareholders large and small expect
management to get a deal done with Dream Chasers. As such,
the fund believes any continued rejectionist,
diversionary and obstructionist behavior by the Carver Board
to Dream Chasers $3.25 for 35% offer
--which would raise millions in much needed capital for the bank to
grow its balance sheet, and as a part of that deal, bring in a
broker dealer, bring in a new set of executive talent and
board members that the fund believes would help the bank turn into
a multi-billion dollar in deposit and assets institution,
potentially growing revenues and profits significantly in an
accretive way thus benefiting shareholders -risk a broad revolution
from a large percent of the bank's shareholder base, communities of
color watching and even some rank and file and key employees.
By been so public with its $3.25
per share offer to take a controlling interest, Dream Chasers seeks
to rally support in -whatever form that may come–from civil society
builders, like-minded shareholders, activist of all stripes,
financial executives, corporations, current Carver bank employees,
social media influences, celebrities, professional athletes,
entertainers, business titans, future depositors and clients and
all constituents who have a vested interest in seeing communities
of color build generational wealth through the emergence of a
national banking champion like Carver helping communities of color
do their savings, invest in the stock market, plan for retirement,
get easier access to mortgages, raise capital for minority startups
and employ a whole new generation of new young minority bankers and
Financial service professionals. Dream Chasers believes the
proposed Carver/broker dealer tie-up is the first seed in the
bank acquiring many other types of financial service
companies, like insurance, investment banking, and
others.
Dream Chaser suggests management does not take any anti-dilutive
and anti-takeover measures that could be detrimental to
shareholders and communities of color.
For more inquiry
info@dreamchaserscapitalgroup.com
About Dream Chasers
www.dreamchaserscapitalgroup.com
Disclaimer: Nothing in this press release should be considered
an offer to sell or a solicitation of an offer to buy shares of any
securities or to make any investments of any kind.
Shareholders should be vigilant
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SOURCE Dream Chasers Capital Group, LLC