Freedom Financial Hldgs. Inc. (FDVA)

[Enterprising Investor]

Freedom Bank Announces $4 Million Common Stock Offering to Fuel Growth (11/03/14)

FAIRFAX, Va.--(BUSINESS WIRE)--The Freedom Bank of Virginia (Bank) (OTCQX: FDVA) announces that following the bank's record performance during the first half of 2014 in terms of assets, loans, and net income, the Board of Directors of The Freedom Bank of Virginia approved a $4 million stock offering. The offering will open to the public on November 3, 2014 and will close out at the earlier of being fully subscribed or November 28, 2014. The offering may be increased to $4.8 million or extended at the discretion of the Board.

The shares of common stock will be priced at $9.00 per share. The proceeds will be used for general corporate purposes, which may include improving the regulatory capital position and supporting future growth.

Purchasers of shares in this offering will be entitled to participate in the previously announced Rights Offering to shareholders, scheduled to begin on or about December 8, 2014. The Rights Offering consists of units of our common stock and warrants to purchase our common stock at an exercise price of $9.00 per share.

CEO Craig S. Underhill said, “Freedom is raising additional capital to take advantage of market conditions. This public offering is an opportunity for local community bank investors in recently acquired banks to reinvest in a rapidly growing and profitable local bank."

For more information on the offering, please contact Craig S. Underhill, President & CEO at [phone] or email at [e-mail].

Freedom Bank is a community-oriented, locally-owned bank with locations in Fairfax, Vienna and Reston, Virginia. For information about Freedom Bank’s deposit and loan services, visit the Bank’s website at www.freedombankva.com.

http://www.businesswire.com/news/home/20141103006941/en/Freedom-Bank%C2%A0Announces%C2%A04%C2%A0Million%C2%A0Common-Stock-Offering-Fuel-Growth#.VFhABNh0zIU