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Bank of the Carolinas Announces Increase in Common Stock Offering
MOCKSVILLE, N.C., Dec. 17 /PRNewswire-FirstCall/ -- Bank of the Carolinas
(OTC:BCAR) (BULLETIN BOARD: BCAR) , a North Carolina state-chartered bank
headquartered in Mocksville, North Carolina, announced today that it has
modified the terms of the public offering of its common stock that it commenced
on November 24, 2004, to increase the number of shares being offered from
400,000 to 600,000 shares. The Bank anticipates that the public offering will
be priced on or about December 22, 2004, and will close on or about December
29, 2004.
McKinnon & Company, Inc., Norfolk, VA, is acting as the sales agent for the
public offering on a best efforts basis. Under the modified offering terms,
the Bank has reserved the right to sell up to 90,000 additional shares in the
offering (15% of the 600,000 shares being offered). The Bank intends to use
the proceeds of the offering to provide capital to support its continued growth
and for other general corporate purposes.
To receive a copy of the Bank's revised preliminary offering circular, contact
McKinnon & Company, Inc., 555 Main Street, Suite 1212, Norfolk, Virginia 23510,
telephone (757) 623-4636.
This Press Release is not an offer to sell or the solicitation of an offer to
buy our common stock, nor will there be any sale of our common stock, in any
state or jurisdiction in which such an offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws of
that state or jurisdiction. Our common stock has not and will not be
registered under the Securities Act of 1933 in reliance on an applicable
exemption from such registration. We may not sell shares of our common stock
until we complete and deliver a definitive Offering Circular, and offers of our
stock are made only by our definitive Offering Circular. The shares of our
common stock are not savings accounts or deposits, or obligations of or
guaranteed by us, and they are not insured by the Federal Deposit Insurance
Corporation or any other person or government agency.
CONTACT: Robert E. Marziano
Chairman and
Chief Executive Officer
(336) 751-5755
DATASOURCE: Bank of the Carolinas
CONTACT: Robert E. Marziano, Chairman and Chief Executive Officer of Bank
of the Carolinas, +1-336-751-5755