Company: BCTF
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0001552781-25-000058
Chunk: 895

Company: Bancorp 34, Inc.
Filing Date: 2025-03-06
Form: 10-K
Item: Item 2
Chunk 895
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 the benefit of the Funds with respect to our common stock sold to the Funds in the private placements. Under the terms of the registration
rights agreement, we agreed to file a registration statement under the Securities Act as would allow the Funds to resell shares
of common stock acquired in the private placements (including those received upon exercise of the Funds’ warrants) (the “registrable
securities”) no later than December 30, 2027 (with respect to Castle Creek) and January 27, 2028 (with respect to Brush Creek)
for an offering to be made on a continuous basis pursuant to Rule 415 (or if a registration under Rule 415 is not available for offers
and sales of the registrable securities, by such other means as Bancorp 34 may reasonably determine). We agreed to use commercially reasonable
efforts to cause the registration statement to be declared effective by the SEC as soon practicable, but in no 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