Atlantic Capital Bancshares, Inc. Announces Extension of Exchange Offer
December 04 2020 - 9:34AM
Atlantic Capital Bancshares, Inc. (NASDAQ: ACBI) (“Atlantic
Capital”) announced today that it extended its offer to holders of
$75 million in aggregate principal amount of its 5.5% fixed to
floating rate subordinated notes due 2030 (the “Old Notes”), issued
August 20, 2020, to exchange the Old Notes for a like principal
amount of notes with identical terms other than that such new notes
have been registered under the Securities Act of 1933, as amended.
The exchange offer, which had been scheduled to expire on
December 2, 2020 at 11:59 p.m., New York City time, will now expire
at 5:00 p.m., New York City time, on December 10, 2020, unless
further extended by Atlantic Capital. All other terms, provisions
and conditions of the exchange offer will remain in full force and
effect. US Bank National Association is serving as exchange agent
for the exchange offer.
Atlantic Capital said it has been informed by the exchange agent
that, as of December 3, 2020 at 9:00 a.m., New York City time,
$73,500,000 in aggregate principal amount of the Old Notes had been
tendered in the exchange offer. This amount represents
approximately 98% of the Old Notes.
This press release is for informational purposes only and does
not constitute an offer to sell or the solicitation to buy any
securities, nor shall there be any sale of 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.
The indebtedness evidenced by the notes is not a deposit and is
not insured by the Federal Deposit Insurance Corporation or any
other government agency or fund.
About Atlantic Capital Bancshares
Atlantic Capital Bancshares, Inc. is a $2.9 billion publicly
traded bank holding company headquartered in Atlanta, Georgia.
Atlantic Capital offers commercial and not-for-profit banking
services, specialty corporate financial services, private banking
services and commercial real estate finance solutions to privately
held companies and individuals in the Atlanta area, as well as
specialized financial services for select clients nationally.
Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933, as
amended and Section 21E of the Securities Exchange Act of 1934, as
amended. These forward-looking statements represent plans,
estimates, objectives, goals, guidelines, expectations, intentions,
projections and statements of our beliefs concerning future events,
business plans, objectives, expected operating results and the
assumptions upon which those statements are based. Forward-looking
statements include without limitation, any statement that may
predict, forecast, indicate or imply future results, performance or
achievements, and are typically identified with words such as
“may,” “could,” “should,” “will,” “would,” “believe,” “anticipate,”
“estimate,” “project,” “expect,” “intend,” “plan,” “strive,” or
words or phases of similar meaning. Forward-looking statements are
based largely on Atlantic Capital’s expectations and are subject to
a number of known and unknown risks and uncertainties that are
subject to change based on factors which are, in many instances,
beyond Atlantic Capital’s control. These risks, uncertainties and
other factors may cause the actual results, performance, and
achievements of the Company to be materially different from the
anticipated future results, performance or achievements expressed
in, or implied by, the forward-looking statements. Factors that
could cause such differences include, but are not limited to,
general economic conditions, the impact of the COVID-19 pandemic,
changes in interest rates, regulatory considerations, competition
and market expansion opportunities, changes in non-interest
expenditures or in the anticipated benefits of such expenditures,
the receipt of required regulatory approvals, and changes in tax
laws. Atlantic Capital undertakes no obligation to publicly update
any forward-looking statement to reflect developments occurring
after the statement is made, except as otherwise required by law.
Actual results, performance or achievements could differ materially
from those contemplated, expressed, or implied by the
forward-looking statements as a result of, among other factors, the
risks and uncertainties described in “Risk Factors” and
“Management’s Discussion and Analysis of Financial Condition and
Results of Operations” in Atlantic Capital’s Annual Report on Form
10-K, as supplemented by our Current Report on Form 8-K filed on
April 23, 2020, and Quarterly Reports on Form 10-Q. Please refer to
the SEC’s website at www.sec.gov where you can review those
documents.
Contact:Patrick Oakes, Executive Vice President
and CFOEmail: patrick.oakes@atlcapbank.com Phone:
404-995-6050
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