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Eagle Bancorp, Inc. Announces Final Results of its Exchange Offer for its Outstanding 10.00% Senior Notes Due 2029
GlobeNewswire · GlobeNewswire Inc.

In This Article:

BETHESDA, Md., Jan. 15, 2025 (GLOBE NEWSWIRE) -- Eagle Bancorp, Inc. (NASDAQ: EGBN) (“Eagle”) announced today that as of 5:00 p.m., New York City time, on January 14, 2025 (the “Expiration Date”), $73.5 million in aggregate principal amount of outstanding 10.00% Senior Notes due 2029 (CUSIPs: 268948 AC0 and 268948 AD8) (the “Original Notes”) representing approximately 95% of the $77.7 million total outstanding principal amount of the Original Notes, were validly tendered and not validly withdrawn in connection with the previously announced exchange offer (the “Exchange Offer”) made by Eagle to exchange any and all of the Original Notes for a like principal amount of notes of the same series that have been registered under the Securities Act of 1933, as amended (the “Securities Act”).

As of the Expiration Date, the aggregate principal amount of the Original Notes specified in the fourth column in the table below were validly tendered and not validly withdrawn with respect to the Exchange Offer.

CUSIP
Number

Title of the Original Notes

Principal
Amount
Outstanding

Principal Amount
of Original Notes
Validly Tendered as
of the Expiration
Date

Percentage of Original Notes
Validly Tendered as of the
Expiration Date

268948 AC0 (Rule 144A)
268948 AD8 (Accredited Investor)

10.00% Senior Notes due 2029
10.00% Senior Notes due 2029

$72,500,000
$5,165,000

$72,500,000
$1,000,000

100%
19.4%

The Exchange Offer was made upon the terms and conditions set forth in a prospectus filed with the Securities and Exchange Commission (the “SEC”) on December 3, 2024 (the “Prospectus”).

The “Settlement Date” with respect to the Exchange Offer will be promptly following the Expiration Date and is expected to be January 16, 2025. Upon settlement of the Exchange Offer, holders who validly tendered their Original Notes by the Expiration Date and did not validly withdraw their tendered Original Notes before the Expiration Date are eligible to receive, subject to the terms and conditions set forth in the Prospectus, notes of the same series in the same principal amount that have been registered under the Securities Act (the “Exchange Notes”). The terms of the Exchange Notes are substantially identical to the terms of the Original Notes, except that transfer restrictions and registration rights applicable to the Original Notes do not apply to the Exchange Notes.

Wilmington Trust, National Association acted as Exchange Agent for the Exchange Offer. Questions or requests for assistance related to the Exchange Offer or for additional copies of the Prospectus may be directed to Wilmington Trust, National Association at (302) 636-6470 or at Rodney Square North 1100 North Market Street, Wilmington, Delaware 19890-1626, Attention: Workflow Management – 5th Floor. You may also contact your broker, dealer, commercial bank, trust company or other nominee for assistance concerning the Exchange Offer.