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QCR Holdings, Inc. Announces Extension of Exchange Offer for Fixed-to-Floating Rate Subordinated Notes due 2032
MOLINE, Ill., Dec. 13, 2022 (GLOBE NEWSWIRE) -- QCR Holdings, Inc. (NASDAQ: QCRH) (the “Company”) announced today that it has extended its registered exchange
About this update from Qcr Holdings, Inc.
[{"type":"text","content":"MOLINE, Ill., Dec. 13, 2022 (GLOBE NEWSWIRE) -- QCR Holdings, Inc. (NASDAQ: QCRH) (the “Company”) announced today that it has extended its registered exchange offer to exchange up to $45,000,000 aggregate principal amount of Fixed-to-Floating Rate Subordinated Notes due 2032 that have been registered under the Securities Act of 1933, as amended, for any and all outstanding unregistered Fixed-to-Floating Rate Subordinated Notes due 2032, which were issued in a private placement on August 18, 2022. The exchange offer, which had been scheduled to expire at 11:59 p.m., New York City time, on December 12, 2022, will now expire at 11:59 p.m., New York City time, on December 19, 2022, unless further extended by the Company. All other terms, provisions and conditions of the exchange offer will remain in full force and effect. As of December 12, 2022, $41,250,000 aggregate principal amount of the outstanding notes have been tendered for exchange, representing approximately 91.7% of the outstanding notes. The terms of the exchange offer are set forth in a prospectus dated November 7, 2022, and the related letter of transmittal. Requests for assistance or for copies of documents related to the exchange offer, including the prospectus and the letter of transmittal, should be directed to the exchange agent, Wilmington Trust, National Association, at (302) 636-6470. This 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. A registration statement on Form S-4 relating to the exchange offer was declared effective by the Securities and Exchange Commission on November 7, 2022. The exchange offer is being made only pursuant to the terms of the exchange offer documents, including the prospectus dated November 7, 2022, and the related letter of transmittal. About Us QCR Holdings, Inc., headquartered in Moline, Illinois, is a relationship-driven, multi-bank holding company serving the Quad Cities, Cedar Rapids, Cedar Valley, Des Moines/Ankeny and Springfield communities through its wholly-owned subsidiary banks. The banks provide full-service commercial and consumer banking and trust and wealth management services. Quad Ci...