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BayCom Corp Announces Closing of Subordinated Notes Offering
WALNUT CREEK, Calif.--(BUSINESS WIRE)-- BayCom Corp (NASDAQ GSM: BCML) (“BayCom” or the “Company”), the parent company of United Business Bank (the “Bank”),
About this update from Baycom Corp
[{"type":"text","content":" WALNUT CREEK, Calif.--(BUSINESS WIRE)--\nBayCom Corp (NASDAQ GSM: BCML) (“BayCom” or the “Company”), the parent company of United Business Bank (the “Bank”), today announced that it had completed its previously announced underwritten offering and sale of its $65.0 million aggregate principal amount of 5.25% Fixed-to-Floating Rate Subordinated Notes due 2030 (the “Notes”). The Notes were sold at par, resulting in net proceeds, after underwriting discounts and estimated offering expenses, of approximately $63.3 million.\n\n\nJanney Montgomery Scott LLC and D.A. Davidson & Co. acted as book-running managers for the offering and Hovde Group, LLC acted as co-manager for the offering.\n\n\nThis press release shall not constitute an offer to sell or a solicitation of an offer to buy the Notes, nor shall there be any sale of the Notes in any state or other 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 offering of Notes was registered under the Securities Act of 1933, as amended, and issued under an effective registration statement on Form S-3 (File No. 333-237791) filed by the Company with the U.S. Securities and Exchange Commission (\"SEC\"). The offer and sale of the Notes was made only by means of a prospectus supplement and accompanying prospectus related to the offering. These documents are available at no charge by visiting the SEC's website at http://www.sec.gov or by contacting Janney Montgomery Scott LLC by email at [email protected] or D.A. Davidson & Co. by email at [email protected].\n\n\nAbout BayCom Corp \n\n\nThe Company, through its wholly owned operating subsidiary, United Business Bank, offers a full-range of loans, including SBA, FSA and USDA guaranteed loans, and deposit products and services to businesses and its affiliates in California, Washington, New Mexico and Colorado. The Bank also offers business escrow services and facilitates tax-free exchanges through its Bankers Exchange Division. The Bank is an Equal Housing Lender and a member of FDIC. The Company is traded on the NASDAQ under the symbol “BCML”. For more information, go to www.unitedbusinessbank.com.\n\n\nForward-looking Statements \n\n\nThis press release contains statements that are considered forward-lo...