Followers | 241 |
Posts | 12150 |
Boards Moderated | 3 |
Alias Born | 04/05/2009 |
Tuesday, April 26, 2016 4:36:51 PM
FAIRFAX, Va.--(BUSINESS WIRE)--The Freedom Bank of Virginia (OTCQX: FDVA) (the “Bank”) today announced the closing of the remaining $6.0 million of the previously disclosed private placement of an aggregate of $16.0 million of its common stock to institutional investors led by Patriot Financial Partners II, L.P. The Bank had previously closed on $10.0 million of the gross proceeds on December 29, 2015. The proceeds from the capital raise will be used for general corporate purposes, including supporting the growth of the Bank.
On March 17, 2016, the Bank offered and sold a total of 705,882 shares of its common stock at a price of $8.50 per share, resulting in gross proceeds to the Bank of $6.0 million. Funds affiliated with Patriot Financial Partners GP II, LLC purchased in this closing an additional 77,175 shares of the Bank’s Class A Voting Common Stock and 628,707 shares of the Bank’s Class B Non-voting Common Stock.
The shares are exempt from registration with the Securities and Exchange Commission pursuant to Section 3(a)(2) of the Securities Act of 1933, as amended. The Bank’s Class A Voting Common Stock is traded on the OTCQX U.S. Premier marketplace under the symbol “FDVA.”
Nelson Mullins Riley & Scarborough LLP served as counsel to the Bank. Silver, Freedman, Taff & Tiernan LLP served as counsel to Patriot Financial Partners.
Freedom Bank is a community 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/20160322005935/en/Freedom-Bank-Closes-Remaining-6-million-16
"Someone said it takes 30 years to be an instant success" - Gabriel Barbier-Mueller, CEO of Harwood International
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM