Umpqua Holdings Corporation Announces Pricing of Secondary Re-Offering
November 04 2014 - 9:00AM
Business Wire
Umpqua Holdings Corporation (NASDAQ:UMPQ) (the “Company”)
announced today the pricing of a previously announced secondary
public offering of 31,190,716 shares of the Company’s common stock
at a public offering price of $16.70. As previously announced, the
offering consists of 28,300,720 shares by certain funds affiliated
with Thomas H. Lee Partners, L.P. and Warburg Pincus LLC
(collectively, the “Selling Stockholders”), and 2,889,996 shares
borrowed by an affiliate of Barclays, in order to hedge the
exposure to warrants, exercisable for 5,056,256 shares of the
Company’s common stock and $6,596,431 in cash, purchased from the
Selling Stockholders by an affiliate of Barclays. Barclays is
acting as the sole bookrunner for the offering. The Selling
Stockholders and the affiliate of the Barclays borrowing the shares
will receive all of the proceeds from this offering. No shares of
common stock are being sold by the Company. Following the offering,
the Selling Stockholders will no longer own any shares of the
Company’s common stock. The offering is currently expected to close
on November 7, 2014, subject to customary closing conditions.
A shelf registration statement, including a base prospectus,
with respect to the offering was previously filed by the Company
with the Securities and Exchange Commission (the “SEC”) and became
effective on April 21, 2014. A preliminary prospectus relating to
the offering has been filed with the SEC. The offering may only be
made by means of the base prospectus and a prospectus supplement
thereto meeting the requirements of Section 10 of the Securities
Act of 1933, as amended. A copy of the prospectus supplement and
the accompanying base prospectus relating to this offering may be
obtained without charge by contacting: Barclays Capital Inc., c/o
Broadridge Financial Solutions 1155 Long Island Avenue, Edgewood,
NY 11717, Barclaysprospectus@broadridge.com, (888) 603-5847. A copy
of the prospectus supplement and accompanying base prospectus may
also be obtained without charge by visiting the SEC website at
www.sec.gov.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any security, nor shall there be
any sale of these securities in any jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such
jurisdiction.
About Umpqua Holdings
Corporation
Umpqua Holdings Corporation (NASDAQ:UMPQ) is the parent company
of Umpqua Bank, an Oregon-based community bank recognized for its
entrepreneurial approach, innovative use of technology, and
distinctive banking solutions. Umpqua Bank has locations across
Idaho, Washington, Oregon, California and Northern Nevada. Umpqua
Holdings also owns a retail brokerage subsidiary, Umpqua
Investments, Inc., which has locations in Umpqua Bank stores and in
dedicated offices in Oregon. Umpqua Private Bank serves high net
worth individuals and nonprofits, providing trust and investment
services. Umpqua Holdings Corporation is headquartered in Portland,
Oregon.
Forward-looking
Statements
Certain statements and information included in this release may
constitute “forward looking statements” within the meaning of the
Federal Private Securities Litigation Reform Act of 1995. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance, or achievements of the Company to be materially
different from any future results, performance, or achievements
expressed or implied in such forward looking statements. Additional
discussion of factors that could cause actual results to differ
materially from management’s projections, forecasts, estimates and
expectations is contained in the companies’ Securities and Exchange
Commission filings. The Company does not undertake any obligation
to update any forward-looking statements, or to make any other
forward-looking statements, whether as a result of new information,
future events or otherwise.
Umpqua Holdings CorporationRon Farnsworth, 503-727-4108EVP/Chief
Financial Officerronfarnsworth@umpquabank.comBradley Howes,
503-727-4226SVP/Director of Investor
Relationsbradhowes@umpquabank.com
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