Republic First Announces $125 Million Equity Capital Raise to Support Execution of Strategic Plan to Drive Profitability and Enhance Shareholder Value
Retrieved on:
Friday, March 10, 2023
Banking, Professional Services, Finance, Sidley Austin, Principal, Abstention, Republic, OTC Bulletin Board, Securities and Exchange Commission (Nigeria), Republic Bank, Czech Republic First!, Keefe, Bruyette & Woods, Common, LLP, Republic First Bancorp, Common stock, Warrant, Security (finance), Management
The Capital Raise, which follows a strategic review process overseen by the Strategic Review Committee of Republic First’s Board of Directors (the “Board”), with the assistance of independent advisors, is intended to support the Company’s execution of a strategic plan to drive profitability and enhance shareholder value.
Key Points:
- The Capital Raise, which follows a strategic review process overseen by the Strategic Review Committee of Republic First’s Board of Directors (the “Board”), with the assistance of independent advisors, is intended to support the Company’s execution of a strategic plan to drive profitability and enhance shareholder value.
- The firm has made more than 300 community bank investments, totaling $1.7 billion across eight private equity funds.
- Additionally, an affiliate of Cohen Private Ventures, LLC (“Cohen Private Ventures”) has committed to participate in the Capital Raise on the same terms for an aggregate amount of $30 million.
- Thomas Geisel, President and Chief Executive Officer of Republic First, commented:
“This Capital Raise, which is a testament to the strength and potential of Republic First’s brand and business, positions us to accelerate execution of a strategic plan that targets profitability and enhanced value for stakeholders.