CityFirstBroadway Completes Common Stock Capital Raise - Seite 2

About the Private Placements

Under the terms of the private placements, Broadway issued 11,221,921 shares of its Class A voting common stock and 7,252,079 shares of its Class C nonvoting common stock at a price of $1.78 per share.

Including the shares of Broadway that were issued in the merger of equals with CFBanc Corporation last week, the total number of outstanding shares of Broadway’s common stock has increased to 71,725,280 shares, comprised of 43,630,884 shares of Class A voting common stock, 11,404,621 shares of Class B non-voting common stock, and 16,689,775 shares of Class C nonvoting common stock. In addition, Broadway has 3,000 shares of Fixed Rate Cumulative Redeemable Perpetual Preferred Stock, Series A, outstanding with a liquidation preference of $3 million.

Raymond James & Associates, Inc. and Keefe, Bruyette & Woods, A Stifel Company, acted as placement agents to Broadway in connection with the private placements. Arnold & Porter Kaye Scholer LLP served as legal counsel to Broadway and Hunton Andrews Kurth LLP served as legal counsel to the placement agents.

For more information about the private placements and merger of equals please visit www.cityfirstbroadway.com.

This press release shall not constitute an offer to sell, a solicitation of an offer to sell, or the solicitation or an offer to buy any securities.

About CityFirstBroadway

CityFirstBroadway is a leading provider of financial products and services to economically underserved urban communities and is supported by impact-focused investors and depositors who share CityFirstBroadway’s mission to close the racial wealth gap through the provision of capital. The Bank offers a variety of commercial loan products, services, and depository accounts that support investments in affordable housing, small businesses, and nonprofit community facilities located in low-to-moderate income neighborhoods. Broadway is a bank holding company and Delaware public benefit corporation. The Bank is a Community Development Financial Institution, Minority Depository Institution, Certified B Corp, and a member of the Global Alliance of Banking on Values, entities whose values are aligned with sustainable solutions, healthier families, and more prosperous communities for our collective well-being. CityFirstBroadway has branches serving the Metropolitan Washington, D.C. and Southern California regions. For more information, please visit www.cityfirstbroadway.com.