BankBlackwell Terminates Common Stock Offering.BOSTON -- BankBlackwell (in organization) announced today that it has terminated its initial public offering of common stock. Under the terms of the offering, BankBlackwell was required to complete the sale of at least 1,580,000 shares of common stock by July 28, 2006 in order to meet capitalization capitalization n. 1) the act of counting anticipated earnings and expenses as capital assets (property, equipment, fixtures) for accounting purposes. 2) the amount of anticipated net earnings which hypothetically can be used for conversion into capital assets. requirements of the Office of Thrift Supervision The Office of Thrift Supervision (OTS) was established as a bureau of the Treasury Department in August 1989 as part of a major Reorganization Plan of the thrift regulatory structure mandated by the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) (12 U.S.C.A. . On July 17, 2006, BankBlackwell announced that it had met the minimum subscription requirement of its initial public offering of common stock. BankBlackwell was unable to complete the timely sale of those shares, however, due to its lead investor's inability to consummate To carry into completion; to fulfill; to accomplish. A Common-Law Marriage is consummated when the parties live in a manner intended to bring about public recognition of their relationship as Husband and Wife. the funding of its stock subscription by the July 28 deadline. BankBlackwell will mail refunds of all subscription proceeds, together with interest earned, to investors by August 2, 2006, in accordance Accordance is Bible Study Software for Macintosh developed by OakTree Software, Inc.[] As well as a standalone program, it is the base software packaged by Zondervan in their Bible Study suites for Macintosh. with the offering procedures set forth in its Offering Circular Offering Circular An abbreviated prospectus for a new security listing. Delivered to individuals and brokerage houses, these documents are issued to arouse interest in the new issue. Notes: An offering circular allows investors to access information regarding a new issue. ,. BankBlackwell investors should contact the Bank toll-free at 877-226-5229 with any questions. BankBlackwell was intended to be the first African-American bank to obtain a federal banking charter in more than a decade. James Mundy and the Bank's other organizers remain committed to creating a 21st century, nationwide financial institution focused specifically on the needs of today's African-American community. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion