BancTrust Financial Group Announces End of Capital Raise as an Independent Entity and Review of Strategic Alternatives
BancTrust Financial Group (NASDAQ: BTFG) announced Wednesday it has ended its efforts to recapitalize the Company as an independent entity. Previously, the Company entered into an agreement with two private equity firms to serve as lead investors providing approximately 49% of the anticipated capital to be raised. In turn, the Company provided the investors an exclusivity commitment during the pendency of the additional capital raise. That exclusivity period has expired without a successful capital raise and without any obligation to pay a termination fee.
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