Hampton Roads Bankshares announces commencement of $45 mln rights offering (HMPR) 1.98 +0.06 : Co announced the commencement of its previously disclosed $45 million rights offering ("Rights Offering"). In the Rights Offering, shareholders who owned common shares of the Company as of 5:00 p.m., New York City time, on May 31, 2012 will receive at no charge a non-transferable right to purchase newly-issued common shares. The Company will issue up to 64,285,715 common shares in the Rights Offering at a price of $0.70 per share. For each share of the Company's common stock owned on the record date, an eligible shareholder will be entitled to exercise a basic subscription right to buy 1.8600 shares of the Company's common stock at the subscription price and, if all of the shareholder's basic subscription rights are exercised, an additional subscription right to buy 2.0667 shares of the Company's common stock at the subscription price.
