MVB FINANCIAL CORP. (OTCMKTS:MVBF) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry Into a Material Definitive Agreement.
an Investment Agreement (the Investment Agreement) with its Chief
Executive Officer, Larry F. Mazza (Mazza). to the Investment
Agreement, Mazza committed to subscribe for and purchase, at the
Subscription Price (as defined below), upon expiration of the
Rights Offering (as defined below), the number of shares of the
Companys common stock, if any, equal to the amount by which
100,000 exceeds the number of shares purchased by Mazza in the
Rights Offering. to the Investment Agreement, Mazza has agreed
not to sell or otherwise transfer any shares acquired in
connection with the Investment Agreement for a period of six
months following the closing of the Rights Offering.
purport to be complete and is qualified in its entirety by
reference to the full text of the Investment Agreement in the
form filed as Exhibit 10.1 to this Current Report on Form 8-K,
which is incorporated herein by reference.
Exchange Commission (the SEC) a prospectus supplement and
accompanying base prospectus (collectively, the Prospectus)
relating to the commencement of the Companys rights offering (the
Rights Offering), to which the Company is distributing, at no
charge, non-transferable subscription rights to the holders of
its common stock as of 5:00 p.m., Eastern time, on March 10,
2017. The subscription rights will be exercisable for up to a
total of 434,783 shares of the Companys common stock, subject to
such terms and conditions as further described in the Prospectus.
The subscription rights may be exercised until 5:00 p.m. Eastern
time, on March 31, 2017.
Statement on Form S-3 (File No. 333->208949), which was filed
with the SEC on January 11, 2016 and declared effective by the
SEC on January 20, 2016 (the Registration Statement). The Company
is filing the items included as Exhibits 4.1 and 10.1 to this
Current Report on Form 8-K, each of which relates to the rights
offering, for the purpose of incorporating by reference such
items as exhibits to the Registration Statement.
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10.1
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Investment Agreement, dated March 13, 2017, between MVB
Financial Corp. and Larry F. Mazza |
About MVB FINANCIAL CORP. (OTCMKTS:MVBF)
MVB Financial Corp. (MVB) is a financial holding company. Through its subsidiaries, MVB Bank, Inc. (the Bank), MVB Mortgage and MVB Insurance, LLC, the Company provides community banking, mortgage banking, insurance and wealth management services to individuals and corporate clients in the Mid-Atlantic region. It operates through four segments: commercial and retail banking, mortgage banking, financial holding company, and insurance services. The Bank offers its customers a range of products, such as checking accounts, negotiable order of withdrawal (NOW) accounts, money market and savings accounts, time certificates of deposit, commercial, installment, commercial real estate and residential real estate mortgage loans, debit cards, and safe deposit rental facilities. The Bank provides services through its walk-in offices, automated teller machines (ATMs), drive-in facilities, and Internet and telephone banking. The Bank also offers non-deposit investment products. MVB FINANCIAL CORP. (OTCMKTS:MVBF) Recent Trading Information
MVB FINANCIAL CORP. (OTCMKTS:MVBF) closed its last trading session 00.00 at 13.50 with 206 shares trading hands.