Republic First Bancorp INC

Market Movers (8-K)

OTC.Pink
Republic First Bancorp has filed for Chapter 11 bankruptcy protection, leading to the resignation of its CEO and CFO and triggering debt repayment obligations.
Worse than expected
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Republic First Bank was closed by the Pennsylvania Department of Banking and Securities, with the FDIC appointed as receiver, leading to the resignation of several board members and a reduction in the board's minimum size.
Worse than expected
OTC.Pink
Republic First Bancorp's previously announced Securities Purchase Agreement with a group of investors has been terminated as the deal could not be completed by the agreed deadline.
Worse than expected
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Republic First Bancorp has dismissed Crowe LLP as its independent auditor and appointed Wolf & Company, P.C. effective February 21, 2024.
Delay expected
Worse than expected
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Republic First Bancorp has filed a preliminary proxy statement for a special shareholder meeting to approve a private placement and related charter amendments.
Capital raise