Home > Boards > US Listed > Banking and Finance > Hampton Roads Bankshares Inc. (HMPR)
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Wednesday, May 29, 2013 8:01:49 AM

Re: Enterprising Investor post# 63

Post# of 98
Standby Purchase Agreement

The Standby Purchase Agreement provided that the Investors would purchase from the Company, at the subscription price, a portion of the shares, if any, up to an aggregate of 53,518,176 shares, not subscribed for in the Rights Offering (the “Standby Purchase”). On September 27, 2012, pursuant to the terms of the Standby Purchase Agreement, the Investors purchased a total of 43,287,161 shares of the Company’s common stock at $0.70 per share in the Standby Purchase. Anchorage purchased 16,007,143 shares, CapGen purchased 11,272,875 shares and Carlyle purchased 16,007,143 shares. Total proceeds from the Standby Purchase were $30,301,012.70. The Company intends to use net proceeds from both the Rights Offering and Standby Purchase for general corporate purposes.

http://www.sec.gov/Archives/edgar/data/1143155/000100210512000154/f8khmpr092712.htm

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