New Issue: Hampton Roads amends price for $255 million private placement of shares

By Devika Patel

Knoxville, Tenn., Aug. 17 - Hampton Roads Bankshares, Inc. revised the per-share price of a $255 million private placement of stock on Aug. 11, according to an 8-K filed Tuesday with the Securities and Exchange Commission. The placement was announced on May 24 and priced June 30.

The Carlyle Group will invest $72.98 million, Anchorage Advisors, LLC will invest $66.71 million and CapGen Capital Group VI, LP will invest $44.49 million by buying common shares at $0.40 each. The per-share price originally was $0.43, a 49.41% discount to the June 29 closing share price of $0.85. The current price will be a 52.94% discount.

Proceeds will be used to make capital contributions to and strengthen the balance sheets of the company's subsidiary banks and for other general corporate purposes.

Hampton Roads, located in Norfolk, Va., is the financial holding company for Bank of Hampton Roads and Shore Bank.

Issuer:	Hampton Roads Bankshares, Inc.
Issue:	Common stock
Amount:	$255 million
Price:	$0.43
Warrants:	No
Investors:	Carlyle Group (for $72,982,786), Anchorage Advisors, LLC (for $66,708,076) and CapGen Capital Group VI, LP (for $44,489,507)
Announcement date:	May 24
Pricing date:	June 30
Revised:	Aug. 11
Stock symbol:	Nasdaq: HMPR
Stock price:	$0.75 at close June 30
Market capitalization:	$25.48 million

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