Eagle Bancorp, Inc. Declares Extension of Registered Exchange Offer for Its Existing 10.00% Senior Notes Maturing in 2029
BETHESDA, Md., Jan. 10, 2025 (GLOBE NEWSWIRE) -- Eagle Bancorp, Inc. (EGBN) ("Eagle") has today announced that (i) the deadline for its previously disclosed exchange offer (the "Exchange Offer") has been extended to 5:00 p.m. (Eastern Time) on January 14, 2025 (the "New Expiration Date"). This offer pertains to the exchange of its outstanding unregistered 10.00% Senior Notes maturing in 2029 (the "Original Notes") for an equivalent principal amount of notes from the same series that have been registered under the Securities Act of 1933, as amended (the "Exchange Notes"), and (ii) the results of the exchange offer as of 5:00 p.m. (Eastern Time) on January 10, 2025 (the "Initial Expiration Date").
The Exchange Offer is set to conclude at 5:00 p.m. Eastern time on January 14, 2025, unless Eagle decides to extend it or terminate it earlier (this date and time, as it may be modified, is referred to as the "Expiration Date"). For an Original Note to be eligible for exchange in the Exchange Offer, it must be properly tendered and not withdrawn before or at the Expiration Date, and must also be accepted by Eagle. The settlement for the Exchange Offer will occur shortly after the Expiration Date, anticipated to be on January 16, 2025. All aspects of the Exchange Offer remain unchanged, except for the Expiration Date, which has been extended to allow holders more time to participate.
As of the Initial Expiration Date, the total principal amount of the Original Notes listed in the fourth column of the table below was properly submitted and not withdrawn regarding the Exchange Offer. All Original Notes that were tendered earlier will continue to be part of the Exchange Offer and may be accepted for exchange by Eagle.
CUSIP Number |
Title of the Original Notes | Principal Amount Outstanding |
Principal Amount of Original Notes Validly Tendered as of the Original Expiration Date |
Percentage of Original Notes Validly Tendered as of the Original Expiration Date |
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268948 AC0 (Rule 144A) 268948 AD8 (Accredited Investor) |
10.00% Senior Notes due 2029 10.00% Senior Notes due 2029 |
$72,500,000 $5,165,000 |
$72,500,000 $1,000,000 |
100% 19.4% |
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The conditions of the Exchange Notes mirror those of the Original Notes, with the exception that the transfer limitations and registration rights associated with the Original Notes are not applicable to the Exchange Notes.
The Exchange Offer is being conducted in accordance with the provisions and conditions outlined in a prospectus submitted to the Securities and Exchange Commission (the "SEC") on December 3, 2024, which may be amended or updated (hereinafter referred to as the "Prospectus").
Wilmington Trust, National Association serves as the Exchange Agent for the Exchange Offer. If you have any q
