Attached files
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8-K - 8-K - Xenith Bankshares, Inc. | w83129e8vk.htm |
EX-1.1 - EXHIBIT 1.1 - Xenith Bankshares, Inc. | w83129exv1w1.htm |
EX-5.1 - EXHIBIT 5.1 - Xenith Bankshares, Inc. | w83129exv5w1.htm |
Exhibit 99.1
June 14, 2011
Contact: | Douglas J. Glenn Executive Vice President, General Counsel and Chief Operating Officer (757) 217-3634 |
HAMPTON ROADS BANKSHARES ANNOUNCES LAUNCH OF AT-THE-
MARKET EQUITY OFFERING
MARKET EQUITY OFFERING
NORFOLK, VA June 14, 2011 Hampton Roads Bankshares, Inc. (NASDAQ: HMPR) (the
Company) the bank holding company for Bank of Hampton Roads and Shore Bank (the Banks),
announced today that it has filed a prospectus supplement under which it may from time to time sell
up to five million shares of its common stock pursuant to an at-the-market equity offering program.
The shares would be offered through Sandler ONeill + Partners, L.P. as placement agent. Sales,
if any, would be made in transactions that are deemed to be at-the-market offerings, including
sales made directly on the NASDAQ Global Select Market or sales made to or through a market maker
other than on an exchange or by privately negotiated transactions. The Company intends to use the
proceeds from any sales for general corporate purposes of the Company or loans to or contributions
to the capital of the Banks.
The Company has filed a registration statement (including a prospectus) and a prospectus
supplement with the Securities and Exchange Commission (the SEC) for the offering of common stock
described in this communication. Sales in the offering, if any, would be made pursuant to the
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prospectus supplement, dated June 13, 2011, to the Companys base prospectus, dated June 2, 2011,
filed as part of the Post-Effective Amendment No. 1 to the shelf registration statement on Form S-3
(SEC File No. 333-160337). Before you invest, you should read the prospectus in that registration
statement, the prospectus supplement relating to the at-the-market offering and other documents the
Company has filed with the SEC for more complete information about it and the at-the-market
offering program. You may obtain the
prospectus supplement and the related base prospectus by visiting
EDGAR on the SEC website at www.sec.gov or the placement agent will arrange to send you the
prospectus supplement and the related base prospectus if you request it by contacting Sandler
ONeill + Partners, L.P., 919 Third Avenue, 6th Floor, New York, New York 10022, Attn: James Furey
or by email to Jfurey@sandleroneill.com.
The offering will be made in compliance with the applicable provisions of Rule 5121 of the
Financial Industry Regulatory Authority, or FINRA. This rule requires that a qualified independent
underwriter meeting certain standards participate in the preparation of the registration statement
and prospectus and exercise the usual standards of due diligence with respect thereto. FBR Capital
Markets & Co. has assumed the responsibilities of acting as a qualified independent underwriter within
the meaning of FINRA Rule 5121 in connection with the offering.
This press release is for informational purposes only and is not an offer to sell or the
solicitation of an offer to sell any security of the Company, nor will there be any sale of any
security in any jurisdiction in which such offer, solicitation or sale would be unlawful. The
offering may be made only by means of a prospectus supplement and related base prospectus.
Caution About Forward-Looking Statements
Certain statements made in this press release may constitute forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking
statements are statements that include projections, predictions, expectations, or beliefs about
events or results or otherwise are not statements of historical facts, such as statements about the
sale of securities and the use of proceeds of the at-the-market offering. Although the Company
believes that its expectations with respect to such forward-looking statements are based upon
reasonable assumptions within the bounds of its existing knowledge of its business and operations,
there can be no assurance that actual results, performance or achievements of the Company will not
differ materially from those expressed or implied by such forward-looking statements. Factors that
could cause actual events or
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results to differ significantly from those described in the
forward-looking statements include, but are not limited to those described in the cautionary
language included under the headings Risk Factors and Managements Discussion and Analysis of
Financial Condition and Results of Operations in the Companys Annual Report on Form 10-K for the
fiscal year ended December 31, 2010, as amended, Quarterly Report on Form 10-Q for the quarter
ended March 31, 2011, those factors addressed in the
prospectus supplement and the related base prospectus in connection with the at-the-market
offering and other filings made with the SEC.
About Hampton Roads Bankshares
Hampton Roads Bankshares, Inc. is a bank holding company that was formed in 2001 and is
headquartered in Norfolk, Virginia. The Companys primary subsidiaries are Bank of Hampton Roads,
which opened for business in 1987, and Shore Bank, which opened in 1961. The Banks engage in
general community and commercial banking business, targeting the needs of individuals and small to
medium-sized businesses. Currently, Bank of Hampton Roads operates forty-eight banking offices in
Virginia and North Carolina doing business as Bank of Hampton Roads and Gateway Bank & Trust Co.
Shore Bank serves the Eastern Shore of Maryland and Virginia through eight banking offices and
fifteen ATMs. Through various affiliates, the Banks also offer mortgage banking services,
insurance, title insurance, and investment products. Shares of the Companys common stock are
traded on the NASDAQ Global Select Market under the symbol HMPR. Additional information about the
Company and its subsidiaries can be found at www.hamptonroadsbanksharesinc.com.
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