Eagle Bancorp, Inc. (NASDAQ: EGBN) has extended the expiration date for its offer to exchange its outstanding unregistered 10.00% senior notes due 2029 for a like principal amount of notes of the same series that have been registered under the Securities Act of 1933, as amended. The expiration date has been extended until 5:00 p.m. (Eastern Time) on January 14, 2025.
As of the original expiration date, the aggregate principal amount of the original notes validly tendered and not validly withdrawn for the exchange offer was $5,165,000, which represents 19.4% of the outstanding principal amount of the original notes.
The terms of the exchange notes are identical to the terms of the original notes, except that the transfer restrictions and registration rights applicable to the original notes do not apply to the exchange notes.
The exchange offer is being made pursuant to the terms of a prospectus filed with the Securities and Exchange Commission (SEC) on December 3, 2024.
Eagle Bancorp, Inc. is the holding company for EagleBank, which operates through twelve banking offices and four lending offices located in suburban Maryland, Washington, D.C., and Northern Virginia. The company focuses on building relationships with businesses, professionals, and individuals in its marketplace. Following these announcements, the company's shares moved -4.7%, and are now trading at a price of $23.41. For the full picture, make sure to review Eagle Bancorp's 8-K report.
