Union Bankshares Corporation Prices Secondary Offering
January 24 2018 - 8:29AM
Union Bankshares Corporation (“Union”) announced today the pricing
of the previously announced secondary public offering by which
ACMO-HR, L.L.C. and Carlyle Financial Services Harbor, L.P.
(collectively, the “Selling Shareholders”) agreed to sell a total
of 7,931,926 shares of Union common stock in an underwritten public
offering at a price to the public of $38.00 per share. The Selling
Shareholders will receive all of the net proceeds from the offering
and upon completion of the offering will no longer own any shares
of Union common stock.
Keefe, Bruyette & Woods, Inc., A Stifel
Company, Sandler O’Neill + Partners, L.P. and Raymond James &
Associates, Inc. are serving as active bookrunners for the offering
and Barclays Capital Inc. is serving as a joint bookrunner for the
offering.
The shares are being offered pursuant to an
automatic shelf registration statement under the Securities Act of
1933, as amended, which was previously filed and automatically
became effective on September 8, 2017 (File No. 333-220398). The
offering is being made only by means of a prospectus supplement and
accompanying prospectus. A preliminary prospectus supplement
has been filed with the Securities and Exchange Commission (the
“SEC”) to which this communication relates. Potential purchasers of
our common stock should consider carefully the information
contained in the preliminary prospectus supplement and the
accompanying prospectus and other documents that Union has filed
with the SEC for more complete information about Union and the
offering. When available, copies of the preliminary prospectus
supplement and the accompanying prospectus related to the offering
may be obtained by contacting: Keefe, Bruyette & Woods, Inc., A
Stifel Company, Equity Capital Markets, 787 Seventh Avenue, 4th
Floor, New York, NY 10019, by e-mail to USCapitalMarkets@kbw.com,
or by calling toll-free: (800) 966-1559; Sandler O’Neill +
Partners, L.P. by calling toll-free at 1-866-805-4128 or by
emailing syndicate@sandleroneill.com; or Raymond James &
Associates, Inc., 880 Carillon Parkway, St. Petersburg, FL 33716,
or by calling (800) 248-8863 or by emailing
prospectus@raymondjames.com. Investors may also obtain copies of
these documents free of charge by visiting the SEC’s website at
www.sec.gov.
NO OFFER OR SOLICITATIONThis
press release shall not constitute an offer to sell or the
solicitation of an offer to buy, these securities, nor shall there
be any sale of these securities in any state or jurisdiction in
which such offer, solicitation, or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction. The offering may be made only by means of
the prospectus supplement and accompanying prospectus, which have
been or will be filed with the SEC.
ABOUT UNION BANKSHARES
CORPORATIONHeadquartered in Richmond, Virginia, Union
Bankshares Corporation (Nasdaq:UBSH) is the holding company for
Union Bank & Trust, which has 150 banking offices, 39 of which
are operated as Xenith Bank, a division of Union Bank & Trust
of Richmond, Virginia, and approximately 220 ATMs located
throughout Virginia and in portions of Maryland and North
Carolina. Union Bank & Trust also operates Shore Premier
Finance, a specialty marine lender. Non-bank affiliates of
the holding company include: Union Mortgage Group, Inc., which
provides a full line of mortgage products, Old Dominion Capital
Management, Inc., which provides investment advisory services, and
Union Insurance Group, LLC, which offers various lines of insurance
products.
Contact: Bill Cimino (804) 448-0937, VP
and Director of Investor Relations
Union Bankshares Corp (NASDAQ:UBSH)
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