Eagle Bancorp, Inc. Files New Universal Shelf Registration Statement
BETHESDA, Md., Aug. 6, 2012 (GLOBE NEWSWIRE) -- Eagle Bancorp, Inc. (the "Company') (Nasdaq:EGBN) announced today that on August 3, 2012 it filed a universal shelf registration statement on Form S-3 with the Securities and Exchange Commission ("SEC"). The shelf registration statement is subject to review by the SEC. Once it becomes effective, the new shelf registration will replace the Company's expiring shelf registration statement and will permit the Company to offer and sell, from time to time, up to $125 million of equity, debt or other types of securities described in the shelf registration statement, or any combination thereof, in one or more future public offerings. The Company's existing shelf registration statement, which was filed with SEC on July 31, 2009, permitted the Company to offer up to $100 million of securities there under, and expires on August 7, 2012.
"The filing was made to continue to provide the Company with financial flexibility and the ability to continue activity under the 'at the market' equity offering previously announced," stated Ronald D. Paul, Chairman and CEO. "Other than transactions under that 'at the market' equity offering announced on May 1, 2012, we have no current plans to sell securities under the new registration statement. However it is prudent to maintain an up-to-date shelf registration statement to ensure flexibility should the need arise."
The new shelf registration statement has been filed with the SEC but has not yet become effective. Under SEC rules, the Company may continue to use the existing registration statement until the new one becomes effective, or for six months, whichever is sooner. This news release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities law of any such state. If and when the Company offers any securities under the new registration statement, the Company will prepare and make available a prospectus supplement that includes the specific terms of the securities being offered, the use of proceeds and other terms of the offering.
This news release contains certain statements that may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements that address activities, events or developments that we intend, expect, plan, project, believe or anticipate will or may occur in the future are forward looking statements. Forward looking statements are based on certain assumptions and assessments made by us in light of our experience and perception of historical trends, current conditions and expected future developments. Actual results and the timing of events may differ materially from those contemplated by the forward looking statements due to a number of factors, including the factors described in the section entitled "RISK FACTORS" in Item 1A of our most recently filed Annual Report on Form 10-K.
ABOUT EAGLE BANCORP, INC. AND EAGLEBANK
Eagle Bancorp, Inc. is the holding company for EagleBank, which commenced operations in 1998. The Bank is headquartered in Bethesda, Maryland, and conducts full service banking services through sixteen offices, located in Montgomery County, Maryland, Washington, D.C. and Northern Virginia. The Company focuses on building relationships with businesses, professionals and individuals in its marketplace.
CONTACT: Michael T. Flynn 301-986-1800