---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-24-005960"
form_type: "8-K"
ticker: null
cik: "0000834285"
company_name: "REPUBLIC FIRST BANCORP INC"
filed_at: "2024-02-29T23:59:59+00:00"
generated_at: "2026-06-05T07:38:00.227479+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Republic First Bancorp's securities purchase agreement terminated by purchasers; deal fails to close by outside date

## Summary
- Purchasers (Norcross group) terminated the October 2023 Securities Purchase Agreement on Feb 28, 2024, effective Feb 29, 2024.
- Termination due to transactions not being consummated by the February 29, 2024 outside date.
- Company states it remains adequately capitalized, has strong deposit base, ample liquidity, and engaged Wolf & Company for financial reporting.
- The deal previously announced in November 2023 involved investment from George E. Norcross III and others.

## SEC filing metadata
- accession: 0001437749-24-005960
- form_type: 8-K
- cik: 0000834285
- company_name: REPUBLIC FIRST BANCORP INC
- filed_at: 2024-02-29T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/834285/000143774924005960/0001437749-24-005960-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/834285/000143774924005960/frbk20240228_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-005960
- JSON: https://secwatch.observer/filing/0001437749-24-005960.json
- Plain text: https://secwatch.observer/filing/0001437749-24-005960.txt

## Key facts
- Material Agreements
  REPUBLIC FIRST BANCORP INC terminated Securities Purchase Agreement with George E. Norcross, III, Gregory B. Braca, Philip A. Norcross, Alessandra T. Norcross and Alexander S. Norcross (collectively, the "Purchasers") (effective 2024-02-29).
  - Action: termination
  - Agreement: equity purchase
  - Counterparty: George E. Norcross, III, Gregory B. Braca, Philip A. Norcross, Alessandra T. Norcross and Alexander S. Norcross (collectively, the "Purchasers")
  - Effective: 2024-02-29
  source text: On February 28, 2024, the Purchasers elected to terminate the Securities Purchase Agreement pursuant to Section 6.10(a)(ii) therein because the transactions contemplated by the Securities Purchase Agreement will not be consummated by February 29, 2024 (the “ Outside Date ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/834285/000143774924005960/0001437749-24-005960-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.