Market Overview

Lead Investors in Hampton Roads Bankshares' $255 Million Private Placement Receive All Regulatory Approvals Necessary to Participate in Offerings

Hampton Roads Bankshares, Inc. (Nasdaq: HMPR) (the "Company"), the holding company for Bank of Hampton Roads and Shore Bank, today announced that the lead investors in the Company's planned $255 million private placement of common stock (the "Private Placement") have received all required regulatory approvals necessary to participate in the Private Placement. The lead investors are Anchorage Advisors, L.L.C., CapGen Financial Group and The Carlyle Group. The Company plans to use the proceeds of the Private Placement and a subsequent rights offering to make capital contributions to its subsidiary banks and for other corporate purposes.

Additional Information

The Private Placement discussed above involves the sale of securities in private transactions that will not be registered under the Securities Act of 1933. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of 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.

Posted-In: News Offerings

 

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