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Civista Bancshares, Inc. Announces Expiration and Results of Exchange Offer for 3.25% Fixed-to-Floating Rate Subordinated Notes due 2031
SANDUSKY, Ohio, April 29, 2022 /PRNewswire/ -- Civista Bancshares, Inc. (NASDAQ:CIVB) ("Civista") announced today the expiration and results of its previously
About this update from Civista Bancshares, Inc.
[{"type":"text","content":"SANDUSKY, Ohio, April 29, 2022 /PRNewswire/ -- Civista Bancshares, Inc. (NASDAQ:CIVB) (\"Civista\") announced today the expiration and results of its previously announced registered exchange offer to exchange any and all of its $75,000,000 aggregate principal amount of 3.25% Fixed-to-Floating Rate Subordinated Notes due 2031, which were issued in a private placement on November 30, 2021 (the \"Original Notes\"), for an equal principal amount of its 3.25% Fixed-to-Floating Rate Subordinated Notes due 2031, which have been registered under the Securities Act of 1933, as amended (the \"Exchange Notes\").\n\n \n \n \n \n \n \n\n \nThe exchange offer expired at 5:00 p.m., New York City time, on April 28, 2022. As of that time, all (100%) of the $75,000,000 aggregate principal amount of the Original Notes had been validly tendered for exchange and not validly withdrawn. All of the Original Notes validly tendered and not validly withdrawn were accepted for exchange in the exchange offer. Civista expects that settlement of the exchange offer will occur on or about May 4, 2022. \nThe exchange offer was made for the purpose of satisfying Civista's obligation under a registration rights agreement entered into on November 30, 2021 in connection with the issuance of the Original Notes, and does not represent a new financing transaction. The exchange offer was made upon the terms and conditions set forth in the exchange offer documents distributed to holders of the Original Notes, including the prospectus dated March 8, 2022 and the related letter of transmittal.\nThis press release is not an offer to buy or sell or the solicitation of an offer to buy or sell any of the securities described herein, nor shall there be any offer, solicitation or sale of such securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. \nAbout Civista Bancshares, Inc.\nCivista Bancshares, Inc. is a $3.2 billion financial holding company headquartered in Sandusky, Ohio. Civista's banking subsidiary, Civista Bank, operates 35 locations in Northern, Central and Southwestern Ohio, Southeastern Indiana and Northern Kentucky. Civista's common shares are traded on the NASDAQ Capital Market under the symbol \"CIVB\".\nForward Looking Statements\nThis press release may contain forward-looking statements regarding the financial performance, ...