Union Bankshares Corporation Announces Closing of Secondary Offering
January 26 2018 - 12:48PM
Union Bankshares Corporation (“Union”) announced today the closing
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”) sold 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 received all of the net proceeds from the offering and
upon completion of the offering 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.
served as active bookrunners for the offering and Barclays Capital
Inc. served as a joint bookrunner for the offering.
The shares of Union common stock were 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 was made only by means of a prospectus supplement and
accompanying prospectus. A final prospectus supplement has
been filed with the Securities and Exchange Commission (the “SEC”)
to which this communication relates. Potential purchasers of Union
common stock should consider carefully the information contained in
the final 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. Copies of the final
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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