Hanmi Announces Completion of Rights Offering Subscription Period, Best Efforts Public Offering Remains Open
July 07 2010 - 5:39PM
Hanmi Financial Corporation (Nasdaq:HAFC), the holding company for
Hanmi Bank, reported that the rights offering subscription period
has concluded, pursuant to the original deadline of 5:00pm New York
time, July 6, 2010, as specified in the prospectus supplement filed
with the SEC on June 11, 2010.
Hanmi anticipates that the rights offering and best efforts
public offering will close as soon as practicable following
acknowledgement of subscriptions for at least $105 million, which
Hanmi expects will be prior to its upcoming stockholders meeting on
July 28, 2010, and would announce the aggregate results of the
offerings as soon as practicable following the closing.
Hanmi is still accepting subscription agreements for its best
efforts public offering of common stock. Investors (including
existing stockholders) interested in participating in the best
efforts public offering should contact Cappello Capital Corp., the
exclusive placement agent for the best efforts public offering.
Contact details for Cappello Capital Corp. are provided below.
Contact Information:
Cappello Capital
Corp. 100 Wilshire Blvd., Suite 1200, Santa
Monica, California 90401 Tel: (310) 393-6632 Paul Kromwyk, Vice
President, pkromwyk@cappellocorp.com
Additional Information:
The shares of common stock offered for sale in the rights
offering and being offered for sale in the best efforts public
offering were and are being offered pursuant to a Registration
Statement on Form S-3 (Registration No. 333-163206) filed by
Hanmi under the Securities Act of 1933, as amended, and a related
prospectus supplement dated June 11, 2010. The prospectus
supplement and related prospectus contain important information
about the rights offering and best efforts public offering and
investors and stockholders are urged to read them carefully. Copies
of the prospectus supplement and related prospectus may be obtained
by contacting Hanmi Financial Corp., Attn: Investor Relations,
David J. Yang 213-637-4798.
Cautionary Statement
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any of the securities described
herein, nor shall there be any sale of the securities in any
jurisdiction or state in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such jurisdiction or state.
Forward-Looking Statements
This press release contains forward-looking statements, which
are included in accordance with the "safe harbor" provisions of the
Private Securities Litigation Reform Act of 1995. In some cases,
you can identify forward-looking statements by terminology such as
"may," "will," "should," "could," "expects," "plans," "intends,"
"anticipates," "believes," "estimates," "predicts," "potential," or
"continue," or the negative of such terms and other comparable
terminology. Although we believe that the expectations reflected in
the forward-looking statements are reasonable, we cannot guarantee
future results, levels of activity, performance or achievements.
These statements involve known and unknown risks, uncertainties and
other factors that may cause our actual results, levels of
activity, performance or achievements to differ from those
expressed or implied by the forward-looking statement. These
factors include the following: inability to consummate the proposed
transaction (the "Transaction") with Woori Finance Holdings Co.
Ltd. ("Woori") on the terms contemplated in the Securities Purchase
Agreement entered into with Woori on May 25, 2010; failure to
receive regulatory or stockholder approval for the Transaction;
inability to continue as a going concern; inability to raise
additional capital on acceptable terms or at all; failure to
maintain adequate levels of capital and liquidity to support our
operations; the effect of regulatory orders we have entered into
and potential future supervisory action against us or Hanmi Bank;
general economic and business conditions internationally,
nationally and in those areas in which we operate; volatility and
deterioration in the credit and equity markets; changes in consumer
spending, borrowing and savings habits; availability of capital
from private and government sources; demographic changes;
competition for loans and deposits and failure to attract or retain
loans and deposits; fluctuations in interest rates and a decline in
the level of our interest rate spread; risks of natural disasters
related to our real estate portfolio; risks associated with Small
Business Administration loans; failure to attract or retain key
employees; changes in governmental regulation, including, but not
limited to, any increase in FDIC insurance premiums; ability to
receive regulatory approval for Hanmi Bank to declare dividends to
the Company; adequacy of our allowance for loan losses, credit
quality and the effect of credit quality on our provision for
credit losses and allowance for loan losses; changes in the
financial performance and/or condition of our borrowers and the
ability of our borrowers to perform under the terms of their loans
and other terms of credit agreements; our ability to successfully
integrate acquisitions we may make; our ability to control
expenses; and changes in securities markets. In addition, we set
forth certain risks in our reports filed with the U.S. Securities
and Exchange Commission ("SEC"), including attached as an Exhibit
to a Current Report on Form 8-K filed with the SEC on June 18,
2010, and current and periodic reports filed with the U.S.
Securities and Exchange Commission hereafter, which could cause
actual results to differ from those projected. We undertake no
obligation to update such forward-looking statements except as
required by law.
Additional Information
A proxy statement relating to certain of the matters discussed
in this news release, including a more complete summary
of proposed capital raising efforts by Hanmi was filed with
the SEC on June 16, 2010. Hanmi is seeking approval of an
increase in its authorized capital stock and approval of issuance
of shares to Woori Finance Holdings at its upcoming meeting of
stockholders to be held on July 28, 2010. Copies of the proxy
statement and other related documents may be obtained for free from
the SEC website (www.sec.gov) or by contacting Hanmi Financial
Corp., Attn: Investor Relations, David J. Yang 213-637-4798.
Hanmi's shareholders are advised to read the proxy statement,
because it contains important information, and Hanmi notes that the
shareholder meeting on the matters discussed in the proxy statement
may occur after the closing of the registered rights and best
efforts offering. Hanmi, its directors, executive officers and
certain members of management and employees may be considered
"participants in the solicitation" of proxies from Hanmi's
shareholders in connection with certain of the matters discussed in
this news release. Information regarding such persons and their
interests in Hanmi is contained in Hanmi's proxy statements and
annual reports on Form 10-K filed with the SEC. Hanmi has engaged
the services of D.F. King & Co., Inc. to assist in soliciting
proxies. Stockholders and investors may obtain additional
information regarding the interests of Hanmi, its directors and
executive officers and D.F. King & Co., Inc. in the matters
discussed in this news release by reading the proxy statement and
other relevant documents regarding the matters discussed in this
news release.
CONTACT: Hanmi Financial Corporation
Brian E. Cho, Chief Financial Officer
(213) 368-3200
David Yang, Investor Relations and Corporate Planning
(213) 637-4798
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