Michael White, a student at Morgan State University, is expected to be released from jail on Monday, according to the Philadelphia Tribune.
Two nonprofits — Philadelphia Community Bail Fund and Philadelphia Bail Fund — posted the $15,000 cash bail for White on Thursday.
Police say White stabbed well-known real estate developer Sean Schellenger on July 12 during an altercation in Philadelphia near Rittenhouse Square. White was delivering food on his bike before the fatal stabbing, but his attorney says he acted in self-defense.
Philadelphia District Attorney, Larry Krasner withdrew the First Degree Murder charge against White during a preliminary hearing on Wednesday.
White now faces 3rd Degree Murder and Voluntary Manslaughter charges.
The reduction in charges meant White could post bail and be released while he awaits trial.