Benzinga | Oct 20, 2020 04:39PM EDT

Carver Bancorp Enters Banc Of America Strategic Investments Corporation Under Which It Issued And Sold 147,227 Shares At $6.62/Share; Offering Resulted In Gross Proceeds Of $947,643

On October 15, 2020, Carver Bancorp, Inc. (the "Company"), parent company of Carver Federal Savings Bank, entered into an Investment Agreement with Banc of America Strategic Investments Corporation, a Delaware corporation, under which it issued and sold 147,227 shares of its common stock, par value $0.01, at a price of $6.62 per share. The shares were issued on October 15, 2020, in a private placement exempt from registration under Section 4(2) of the Securities Act of 1933, as amended, and Regulation D of the rules and regulations promulgated thereunder. The offering resulted in gross proceeds of $947,643. There were no underwriting discounts or commissions