Company: BCTF
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0001552781-25-000058
Chunk: 225

Company: Bancorp 34, Inc.
Filing Date: 2025-03-06
Form: 10-K
Item: Item 1
Chunk 225
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 event later than the tenth
trading day after the date Bancorp 34 is notified by the Securities and Exchange Commission that the registration statement will not
be reviewed or will not be subject to further review, and then to maintain the effectiveness of the registration statement. As described
in our registration rights agreement, if we do not comply with our obligations to file the registration statement and ensure that it
is declared and remains effective, we could be obligated to contractual penalties, including liquidated damages.

Under
the registration rights agreement, we are required to provide written notice to the Funds of our intent to file a registration statement
covering a primary or secondary public offering of our common stock, non-voting common stock, warrants or other securities (a “Primary
or Secondary Registration Statement”) other than in connection with registration statement to implement an employee benefit plan
pursuant to a registration statement on Form S-8 (or successor form) or a registration statement on Form S-4 (or successor form) or a
transaction to which Rule 145 or any other similar rule of the Securities and Exchange Commission is applicable. The Funds have “piggy-back”
registration rights that permit them to have shares of common stock owned by them included in the Primary or Secondary Registration Statement
upon written notice to us within the prescribed time limit. The ability of the Funds to register shares under the Primary or Secondary
Registration Statement is subject to the terms of the registration rights agreement. The managing underwriter may under certain circumstances
limit, or cut back the number of shares owned by such holders that are included in the offering.

We
will pay all expenses incident to our performance under the registration rights agreement with the Funds, including, without limitation,
all SEC and Financial Industry Regulatory Authority, Inc. (“FINRA”) registration, filing and review fees, all fees and expenses
of complying with securities or state “blue sky” laws, all fees of counsel and independent public accountants retained by
us and those expenses of each Fund actually and reasonably incurred, including reasonable attorneys’ fees, not to exceed $50,000
in the aggregate per Fund. We are not required, however, to pay any underwriting discounts and selling commissions, stock transfer taxes
and fees of counsel (except as provided in the prior sentence) for the holders of registrable securities. We have also agreed to indemnify
the Funds and their affiliates who have securities included in a registration statement against specified liabilities, including certain
potential liabilities arising under the Securities Act, and the Funds have