Pharma Investments, Ventures & Law Weekly
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Federal Trust Corporation
Federal Trust Corporation Files New Registration Statement
August 24th, 2008
Federal Trust Corporation (AMEX:FDT) announced that it has filed a new registration statement with the Securities and Exchange Commission with respect to its capital raising efforts. The Company has determined to terminate its prior rights offering, and instead intends to offer shares of its common stock in a best-efforts public offering. The Company expects to enter into new standby purchase agreements to support the stock offering. President and Chief Executive Officer Dennis T. Ward stated, "We believe that this new offering structure will assist us in more quickly raising capital. The Company's shareholders will be permitted to participate in the new offering to the...
Source: Pharma Investments, Ventures & Law Weekly (2008-08-24)
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