The First Bancshares, Inc. Extends Its Offer to Exchange Any and All of the $65 Million in Aggregate Principal Amount of 4.25% Fixed-To-Floating Rate Subordinated Notes Due 2030
January 21, 2021 at 07:26 pm IST
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On January 21, 2021, The First Bancshares, Inc. announced that it had extended its offer to exchange any and all of the $65 million in aggregate principal amount of 4.25% Fixed-to-Floating Rate Subordinated Notes due 2030 that the Company issued in a private placement on September 25, 2020 for a like principal amount of notes with identical terms that have been registered under the Securities Act of 1933, as
amended. The Exchange Offer will now expire at 5:00 p.m., New York City time, on January 28, 2020, unless further extended. The exchange offer, which had been scheduled to expire on January 20, 2021 at 11:59 p.m., New York City time, will now expire at 5:00 p.m., New York City time, on January 28, 2021, unless further extended by First Bancshares. All other terms, provisions and conditions of the exchange offer will remain in full force and effect. U.S. Bank National Association is serving as exchange agent for the exchange offer. First Bancshares said it has been informed by the exchange agent that, as of January 20, 2020 at 5:00 p.m., New York City time, $64,500,000 in aggregate principal amount of the Old Notes had been tendered in the exchange offer. This amount represents approximately 99% of the Old Notes.
The First Bancshares, Inc. is a bank holding company for The First Bank (the First). The Company is a community-focused financial institution that offers a full range of financial services to individuals, businesses, municipal entities and nonprofit organizations in the communities that it serves. These services include consumer and commercial loans, deposit accounts and safe deposit services. It offers a full range of deposit services that are available in banks and savings institutions, including checking accounts, NOW accounts, savings accounts, and other time deposits of various types, ranging from daily money market accounts to longer-term certificates of deposit. It offers a full range of commercial and personal loans. Commercial loans include both secured and unsecured loans for working capital, business expansion, purchase of equipment and machinery, and others. Its segments include the Commercial/Retail Bank, the Mortgage Banking Division, and the Holding Company.
The First Bancshares, Inc. Extends Its Offer to Exchange Any and All of the $65 Million in Aggregate Principal Amount of 4.25% Fixed-To-Floating Rate Subordinated Notes Due 2030