CommerceFirst Bancorp Announces Pricing and Sale of Common Stock
23 2월 2005 - 8:31AM
PR Newswire (US)
CommerceFirst Bancorp Announces Pricing and Sale of Common Stock
ANNAPOLIS, Md., Feb. 22 /PRNewswire-FirstCall/ -- CommerceFirst
Bancorp, Inc. (OTC:CMFB) (BULLETIN BOARD: CMFB) , the bank holding
company for CommerceFirst Bank, announced the sale by the Company
of 806,333 shares of its common stock at $10.50 per share in a best
efforts underwritten offering conducted by McKinnon & Company,
Inc. The offering was priced on February 22, 2005. The Company also
announced the completion of its rights offering of shares of its
common stock to shareholders of record on December 9, 2004 on the
basis of one additional share of common stock for each 4.69 shares
held on the record date. All 175,000 shares offered in the rights
offering were sold, at the rights offering price of $10.50 per
share. The offerings are expected to close on or about February 28,
2005. The Company intends to use the proceeds of the offering in
its lending and investment activities and for other general
corporate purposes. The Company's common stock is currently traded
on the over-the-counter bulletin board. In connection with the
offerings, the Company's application to have the common stock
listed for trading on the Nasdaq SmallCap Market under the symbol
"CMFB" has been approved. It is expected that the first day of
trading on the Nasdaq SmallCap Market will be March 1, 2005. This
press release is not an offer to sell or the solicitation of an
offer to buy, nor shall there be any sale of these securities, in
any state or jurisdiction in which such an offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such state or jurisdiction. Any offer,
solicitation or sale will be made only by means of the final
prospectus. Copies of the prospectus may be obtained by contacting:
McKinnon & Company, Inc., 555 Main Street, Norfolk, Virginia
23510, (757) 623-4636. Forward Looking Statements. This press
release includes forward looking statements within the meaning of
Section 21(e) of the Securities Exchange Act of 1934. These
statements are based on the Company's current expectations and
estimates as to prospective events and circumstances that may or
may not be in the Company's control and as to which there can be no
firm assurances given. These forward looking statements are subject
to risks and uncertainties; there can be no assurance that any of
these forward looking statements may prove to be correct and actual
results may differ materially. These risks and uncertainties
include, but are not limited to, the risks related to the Company's
ability to complete the underwritten public offering registration.
DATASOURCE: CommerceFirst Bancorp, Inc. CONTACT: Richard J. Morgan,
President and Chief Executive Officer of CommerceFirst Bancorp,
Inc., +1-410-280-6695 Web site: http://www.commerce1st.com/
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