PHILADELPHIA, June 24 /PRNewswire-FirstCall/ -- Republic First Bancorp, Inc. (Nasdaq: FRBK), the holding company for Republic First Bank, announced today that it has completed its offering of 15 million shares of its common stock to the public at $2.00 per share. Sandler O'Neill + Partners, L.P. and RBC Capital Markets Corporation acted as co-book running managers for the offering. The offering was made pursuant to an effective registration statement filed with the SEC. The net proceeds of approximately $28.1 million from the offering will be used for general corporate purposes, including implementing the bank's retail and rebranding strategies, renovating its stores and adding new branches. Republic First Bancorp, Inc. has granted the underwriters a 30-day option to purchase up to an additional 15% of the offered amount at the offering price to cover over-allotments, if any. A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on June 21, 2010, and the public offering is being made only by means of a prospectus. A written prospectus for the offering may be obtained from Sandler O'Neill + Partners, L.P., 919 Third Avenue, 6th Floor, New York, NY 10022, (866) 805-4128 or from RBC Capital Markets, Three World Financial Center, 200 Vesey Street, 8th Floor, New York, NY 10281-8098, Attention: Equity Syndicate or by faxing (212) 428-6260 or calling (212) 428-6670 . An electronic copy of the prospectus is included in the registration statement and is available on the web site of the Securities and Exchange Commission at http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000834285. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.