Attached files
file | filename |
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8-K - FORM 8-K - OFG BANCORP | g23173e8vk.htm |
EX-3.1 - EX-3.1 - OFG BANCORP | g23173exv3w1.htm |
Exhibit 99.1
Puerto Rico Contact: | ||
Marilyn Santiago-Colón,
Oriental Financial Group Inc. (787) 993-4648 |
||
U.S. Contact: | ||
Steven Anreder and Gary Fishman,
Anreder & Company (212) 532-3232 |
ORIENTAL FINANCIAL GROUP ANNOUNCES SALE OF $200 MILLION OF PREFERRED STOCK
San Juan, Puerto Rico, April 30, 2010 Oriental Financial Group Inc. (NYSE: OFG) announced that it
has completed a sale of $200 million of its Mandatorily Convertible Non-Cumulative Non-Voting
Perpetual Preferred Stock, Series C, through a private placement.
The preferred stock has a liquidation preference of $1,000 per share and, subject to approval of
Oriental Financial Groups stockholders, the preferred stock will be convertible into shares of
common stock at a conversion price of $15.015 per share. Oriental Financial Group intends to seek
stockholder approval at a special stockholders meeting to be held as soon as practicable, but in no
event later than 75 days after the closing of the purchase of the preferred stock, to allow the
conversion of the shares of preferred stock into common stock.
The securities were offered and sold in private transactions and will not be and have not been
registered under the Securities Act of 1933, as amended, and may not be offered or sold in the
United States absent registration or an applicable exemption from registration requirements.
Forward-Looking Statements
This press release contains certain forward-looking information about Oriental Financial Group that
is intended to be covered by the safe harbor for forward-looking statements provided by the
Private Securities Litigation Reform Act of 1995. All statements other than statements of
historical fact are forward-looking statements. Such statements involve inherent risks and
uncertainties, many of which are difficult to predict and are generally beyond the control of
Oriental Financial Group. Oriental Financial Group cautions readers that a number of important
factors could cause actual results to differ materially from those expressed in, or implied or
projected by, such forward-looking statements. If any of these risks or uncertainties materializes
or if any of the assumptions underlying such forward-looking statements proves to be incorrect,
Oriental Financial Groups results could differ materially from those expressed in, or implied or
projected by such forward-looking statements. Oriental Financial Group assumes no obligation to
update such forward-looking statements, except as required by law. For a more complete discussion
of risks and uncertainties, investors and security holders are urged to read the section titled
Risk Factors in Oriental Financial Groups Annual Report on Form 10-K and any other reports filed
by it with the SEC. The documents filed by Oriental Financial Group with the SEC
may be obtained at
the SECs website at www.sec.gov. These documents may also be obtained free of charge from Oriental
Financial Group by directing a request to: Oriental Financial Group Inc., Investor Relations c/o
Anreder & Company, 286 Madison Avenue, Suite 907, New York, NY 10017; telephone: (212) 532-3232 or
(800) 421-1003; fax: (212) 679-7999; e-mail: ofg@anreder.com.