Business News • MarketWire • Tri-Valley Bank Announces Signing of Definitive Agreement With Local Investors |
Tri-Valley Bank Announces Signing of Definitive Agreement With Local Investors |
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Tri-Valley Bank Announces Signing of Definitive Agreement With Local Investors
SAN RAMON, CA--(Marketwire - March 15, 2010) - Tri-Valley Bank (OTCBB: TRVB), announced today the signing of a definitive agreement with Tri-Capital, LLC (TC), which will invest $6,000,000 in the Bank by purchasing 15,851,385 shares of the Bank's common stock, which is $0.37852 per share. The definitive agreement gives TC the right to purchase an additional 13,209,488 shares at the same price share for up to a year following the closing. In addition, the definitive agreement contemplates the Bank will conduct an offering of up to 1,981,423 shares of common stock to its existing shareholders at the same price of $0.37852 per share. There are 1,761,265 shares of the Bank's common stock currently outstanding.
View More : http://www.marketwire.com/mw/release.do?id=1132059&sourceType=3
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