Carver Bancorp raises $1.0M via private placement of 378,788 shares at $2.64/share

CARVER BANCORP INC

Sold 378,788 common shares at $2.64/share to National Community Investment Fund for gross proceeds of $1.0M.
Shares issued on July 19, 2023, in a private placement exempt from registration under Section 4(a)(2) and Regulation D.
No underwriting discounts or commissions were incurred in the placement.
Net proceeds to be used for general corporate purposes; total outstanding common shares now 4,892,517.
Investment Agreement includes customary representations, warranties, and covenants.

Key facts

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

CARVER BANCORP INC entered into Investment Agreement with National Community Investment Fund valued at approximately $1.0 million (effective 2023-07-19).

Action: entry
Agreement: equity purchase
Counterparty: National Community Investment Fund
Value: approximately $1.0 million
Effective: 2023-07-19

Exact text from the filing

On July 19, 2023, Carver Bancorp, Inc. (the “Company”) entered into an Investment Agreement (the “Investment Agreement”) with National Community Investment Fund (“NCIF”), pursuant to which the Company sold 378,788 shares of the Company’s common stock, par value $0.01 per share, at a purchase price of $2.64 per share (the “Common Stock”) in a private placement (the “Private Placement”) for gross proceeds of approximately $1.0 million.

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Source: SEC EDGAR

accession 0001104659-23-082563

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