GLEN ALLEN, Va., May 14, 2012 /PRNewswire/ -- First Capital
Bancorp, Inc. (NASDAQ: FCVA) announced today, that as of
May 11, 2012, it has completed its
rights offering and its offering of shares to a standby
investor. Stockholders exercised subscription rights to
purchase 4.0 million shares offered at a subscription price of
$2.00 per share, and Kenneth R. Lehman, a private investor from
Arlington, Virginia, purchased 4.9
million shares at the subscription price of $2.00 per share. In total, the Company
raised gross proceeds of $17.8
million before expenses. The proceeds from the rights
offering and standby purchase will be used to invest in the
Company's subsidiary, First Capital Bank, to improve its regulatory
capital ratios and for general corporate purposes.
First Capital Bancorp, Inc. is the parent company of First
Capital Bank which currently operates seven branches in Innsbrook,
Chesterfield Towne Center, near Willow Lawn on Staples Mill Road,
in Ashland, at Three Chopt and
Patterson in Henrico County, at the James Center in
downtown, Richmond, and in
Bon Air, Chesterfield
County.
Readers are cautioned that this press release contains
forward-looking statements made pursuant to safe harbor provisions
of the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements are based on management's current
knowledge, assumptions, and analyses, which it believes are
appropriate in the circumstances regarding future events, and may
address issues that involve significant risks including, but not
limited to: changes in interest rates; changes in accounting
principles, policies, or guidelines; significant changes in general
economic, competitive, and business conditions; significant changes
in or additions to laws and regulatory requirements; and
significant changes in securities markets. Additionally, such
aforementioned uncertainties, assumptions, and estimates, may cause
actual results to differ materially from the anticipated results or
other expectations expressed in the forward-looking statements.
First Capital Bank...Where People Matter.
SOURCE First Capital Bancorp, Inc.