Republic First Bancorp (FRBK) has released an update.
Republic First Bancorp, Inc. filed a preliminary proxy statement for a special shareholder meeting to address matters linked to a Securities Purchase Agreement. This agreement involves the sale of common and preferred stock to a group of purchasers. The upcoming meeting will vote on amending the Company’s Articles of Incorporation to increase authorized common stock, restoring voting rights for certain shares, and approving equity transactions by certain purchasers. The proxy statement details the proposals and the rationale behind the private placement.
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