Hanmi Financial Corporation Announces Pricing of $70 Million Underwritten Public Offering of Common Stock
November 15 2011 - 8:00AM
Hanmi Financial Corporation (Nasdaq:HAFC) (the "Company"), the
holding company for Hanmi Bank, today announced the pricing of its
previously announced underwritten public offering of its common
stock, raising aggregate gross proceeds of approximately $70
million (not including the potential exercise by the underwriter of
its over-allotment option). The offering consisted of 87,500,000
shares of common stock at a price to the public of $0.80 per share.
FBR Capital Markets & Co. is the underwriter for this offering.
The Company also granted the underwriter a 30-day option to
purchase up to 13,125,000 additional shares of common stock, solely
to cover over-allotments, if any. The Company expects issuance and
delivery of the shares of common stock to occur on November 18,
2011, subject to customary closing conditions.
The Company intends to contribute a substantial portion of the
net proceeds from the offering to Hanmi Bank as additional capital
and to support future organic growth and future acquisition driven
growth. The Company intends to retain the remaining net proceeds at
the Company level for use as working capital and other general
corporate purposes.
A registration statement relating to these securities has been
filed with the U.S. Securities and Exchange Commission and has
become effective. This press release does not constitute an offer
to sell or a solicitation of an offer to buy the securities
described herein, nor shall there be any sale of these securities
in any state or jurisdiction in which such an offer, solicitation
or sale would be unlawful prior to registration or qualification
under the securities laws of any such state or jurisdiction. The
public offering of the Company's common stock may be made only by
means of a prospectus and a related prospectus supplement, copies
of which may be obtained by from FBR Capital Markets & Co.,
Prospectus Department, 1001 19th Street, North, Arlington, VA
22209, or by email at prospectuses@fbr.com.
About Hanmi Financial Corporation
Headquartered in Los Angeles, Hanmi Bank, a wholly-owned
subsidiary of Hanmi Financial Corporation, provides services to the
multi-ethnic communities of California, with 27 full-service
offices in Los Angeles, Orange, San Bernardino, San Francisco,
Santa Clara and San Diego counties, and a loan production office in
Washington State. Hanmi Bank specializes in commercial, SBA and
trade finance lending, and is a recognized community leader. Hanmi
Bank's mission is to provide a full range of quality products and
premier services to its customers and to maximize shareholder
value. Additional information is available at www.hanmi.com.
Forward-Looking Statements
This news release contains forward-looking statements for which
the Company claims the protection of the safe harbor contained in
the Private Securities and Litigation Reform Act of 1995. These
forward-looking statements are subject to risks and uncertainties.
A number of factors, many of which are beyond the Company's ability
to control or predict, could cause future results to differ
materially from those contemplated by such forward-looking
statements. The Company's Annual Report on Form 10-K and other SEC
filings discuss the most significant risk factors that may affect
its business, results of operations and financial condition. The
Company undertakes no obligation to revise or update publicly any
forward-looking statements for any reason.
CONTACT: Hanmi Financial Corporation
David Yang
Investor Relations Officer
(213) 637-4798
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