Broadway Financial (BYFC) Announces Additional Commitments in Private Placement of Common Stock
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Broadway Financial Corporation Announces Additional Commitments in Private Placement of Common Stock
February 23, 2021 6:00 AM ESTBrings Total Commitments for New Equity Capital to $32.88 Million that Will Support Combined Institution to Result from Merger
LOS ANGELES--(BUSINESS WIRE)-- Broadway Financial Corporation (Broadway) (NASDAQ: BYFC) today announced the execution of additional stock purchase agreements with institutional and accredited investors to raise an additional $20.2 million, adding to the three previous stock purchase agreements announced on November 25, 2020. Together with the previously announced capital commitments, the private placements represent total commitments for 18.474 million shares of Broadways common stock, at an offering price of $1.78 per share, for aggregate gross proceeds of... More
