Stock Market News

Republic First Bancorp to go slow on fundraise, says has “adequate” capital

2023.05.15 07:54


© Reuters.

(Reuters) – Republic First Bancorp (NASDAQ:) said on Monday it has “adequate” capital and would wait for market conditions to stabilize before rounding out the $125-million fundraise it had announced in March.

The lender is seeking more “acceptable” terms for the capital raise and is also looking for more participants after securing the backing of alternative asset management firm Castle Creek Capital and investment firm Cohen Private Ventures.

“Protecting Republic’s valued shareholders from excessive and unnecessary dilution is very important to us,” Chief Executive Officer Thomas Geisel said in a statement.

The bank had earlier this month said it was cutting jobs in its commercial lending unit with an aim to exit its mortgage origination business as it sharpens focus on its core products.

Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 75,887.33 1.80%
vested-xor
Vested XOR (VXOR) $ 3,405.08 99,999.99%
ethereum
Ethereum (ETH) $ 2,837.70 7.15%
tether
Tether (USDT) $ 1.00 0.02%
solana
Solana (SOL) $ 191.61 3.23%
bnb
BNB (BNB) $ 596.77 2.12%
usd-coin
USDC (USDC) $ 1.00 0.10%
xrp
XRP (XRP) $ 0.549594 3.18%
dogecoin
Dogecoin (DOGE) $ 0.193396 1.47%
staked-ether
Lido Staked Ether (STETH) $ 2,837.33 7.17%
cardano
Cardano (ADA) $ 0.389019 9.77%
tron
TRON (TRX) $ 0.1603 2.04%
the-open-network
Toncoin (TON) $ 4.90 4.50%
wrapped-steth
Wrapped stETH (WSTETH) $ 3,352.91 6.94%
shiba-inu
Shiba Inu (SHIB) $ 0.000019 2.45%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 75,812.31 1.81%
avalanche-2
Avalanche (AVAX) $ 27.21 3.73%
weth
WETH (WETH) $ 2,834.95 6.99%
chainlink
Chainlink (LINK) $ 12.41 4.42%
bitcoin-cash
Bitcoin Cash (BCH) $ 380.69 3.01%
sui
Sui (SUI) $ 2.33 3.31%
polkadot
Polkadot (DOT) $ 4.14 2.18%
leo-token
LEO Token (LEO) $ 6.24 0.20%
usds
USDS (USDS) $ 0.988114 1.57%
uniswap
Uniswap (UNI) $ 9.08 2.43%
litecoin
Litecoin (LTC) $ 71.31 2.05%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,986.24 7.31%
near
NEAR Protocol (NEAR) $ 4.21 3.23%
aptos
Aptos (APT) $ 9.75 5.66%
pepe
Pepe (PEPE) $ 0.00001 12.59%
bittensor
Bittensor (TAO) $ 516.48 0.17%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.42 2.54%
internet-computer
Internet Computer (ICP) $ 7.74 1.44%
dai
Dai (DAI) $ 1.00 0.05%
monero
Monero (XMR) $ 164.34 0.99%
ethereum-classic
Ethereum Classic (ETC) $ 19.91 4.19%
kaspa
Kaspa (KAS) $ 0.118363 0.86%
stellar
Stellar (XLM) $ 0.099382 3.36%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.01%
whitebit
WhiteBIT Coin (WBT) $ 19.29 0.04%
aave
Aave (AAVE) $ 184.28 11.40%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.343288 5.46%
blockstack
Stacks (STX) $ 1.68 1.87%
okb
OKB (OKB) $ 40.03 2.29%
crypto-com-chain
Cronos (CRO) $ 0.087577 3.15%
dogwifcoin
dogwifhat (WIF) $ 2.36 2.13%
first-digital-usd
First Digital USD (FDUSD) $ 0.997334 0.53%
arbitrum
Arbitrum (ARB) $ 0.572903 9.20%
filecoin
Filecoin (FIL) $ 3.76 4.30%
mantle
Mantle (MNT) $ 0.650928 10.70%