Companies Republic First Bancorp Inc FollowAug 29 (Reuters) - Republic First Bancorp (FRBK.PK) is in talks with a group led by activist investor George Norcross regarding an equity investment and a broader capital raise, according to a regulatory filing on Tuesday.
Although discussions are still preliminary, Norcross expects that such a transaction could provide for the resolution of pending litigation involving the bank, he said in the filing.
The company last week saw its shares getting delisted from the Nasdaq after it failed to file its annual report with the securities regulator for the fiscal year 2022.
The company may apply to list on a major exchange after it files all delayed reports and meets other listing requirements.
Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.
Persons:
George Norcross, Norcross, Norcorss, Jaiveer Singh, Maju Samuel
Organizations:
Bancorp, First Bancorp, Nasdaq, Group, Thomson
Locations:
Philadelphia, Bengaluru