Item 8.01 Other Events
On November 30, 2012, New Peoples Bankshares, Inc. ("Company") Board of
Directors extended the common stock public offering from November 30, 2012 to
December 20, 2012. At this time the offering cannot be extended past December
31, 2012.
The extension is required due to a requested regulatory approval which is
pending. Assuming the approval is received as requested and prior to the
expiration of the offering and based upon commitments and subscriptions received
to date, the Company believes it will raise approximately $12 million in the
offering, exceeding the $10.0 million minimum.
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