Howard Bancorp Announces Filing of Form S-3 to Replace an Expiring Shelf Registration Statement
17 Julio 2020 - 4:33PM
Business Wire
Howard Bancorp, Inc. (the "Company") (NASDAQ: HBMD) announced
today that it has filed a shelf registration statement on Form S-3
with the Securities and Exchange Commission (the "SEC"). When
declared effective by the SEC, the shelf registration statement
will allow the Company to raise capital from time to time, up to an
aggregate of $100 million, through the sale of common and preferred
stock, debt securities, warrants and other securities. Specific
terms and prices would be determined at the time of each offering
under a separate prospectus supplement, which would be filed with
the SEC at the time of the offering.
This shelf registration statement replaces the shelf
registration statement on Form S-3 originally filed with the SEC on
July 17, 2017 that was set to expire on July 26, 2020. The expiring
shelf registration statement allowed the Company to raise capital
from time to time, up to an aggregate of $75 million. That shelf
registration was not utilized during its life although the company
issued $25 million of subordinated debt in December 2018 in an
unregistered private offering.
Mary Ann Scully, Chairman and Chief Executive Officer, said
"Today’s shelf registration is intended to provide continued
flexibility, if desired, in our ability to take advantage of
potential future opportunities for growth by giving us the ability
to quickly raise capital if and when the need or opportunity
arises. We increased the size of our expiring shelf registration by
$25 million in light of our substantial growth in both total assets
and stockholders’ equity since the original shelf registration was
filed in 2017. We have no present or contemplated intention at this
time to raise capital in any form. Keeping a refreshed shelf is a
standard tool in our capital management."
The registration statement on Form S-3 filed with the SEC has
not yet become effective. Securities may not be sold nor may offers
to buy be accepted prior to the time that the registration
statement becomes effective. This news release does not constitute
an offer to sell, or the solicitation of an offer to buy
securities, nor shall there be any sale of securities in any state
or other jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification of the
securities under the securities laws of that state or jurisdiction.
Any offer of securities covered by the registration statement will
be made solely by means of a prospectus included in the
registration statement and a prospectus supplement with respect to
such offering.
About Howard Bancorp, Inc.
Howard Bancorp, Inc. is the parent company of Howard Bank, a
Maryland-chartered trust company operating as a commercial bank.
Headquartered in Baltimore City, Maryland, Howard Bank operates a
general commercial banking business through its 15 branches located
throughout the Greater Baltimore Metropolitan Area. It had
consolidated assets of approximately $2.5 billion at March 31,
2020. Additional information about Howard Bancorp, Inc. and Howard
Bank are available on its website at www.howardbank.com.
Cautionary Note Regarding Forward Looking Statements
Certain statements in this press release constitute “forward
looking statements” under the Private Securities Litigation Reform
Act of 1995, Forward looking statements can be identified by words
such as “plans,” “anticipated,” “expects,” “intends,” “believes,”
“may,” “likely,” “will” or other statements that indicate future
periods. Such forward-looking statements are subject to risks,
uncertainties, and other factors, which could cause actual results
to differ materially from future results expressed or implied by
such forward-looking statements. Factors that might cause such a
difference include, but are not limited to, economic conditions,
competition in the geographic and business areas in which the
Company conducts its operations, fluctuations in interest rates,
credit quality, and government regulation. Additional risks and
uncertainties are contained in the “Risk Factors” and
forward-looking statements disclosure in our most recent Annual
Report on Form 10-K and Quarterly Reports on Form 10-Q.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200717005563/en/
For additional information or questions: Robert L.
Carpenter, Jr., Chief Financial Officer Howard Bancorp, Inc. 3301
Boston Street Baltimore, Maryland 21224 410-750-0020 Email:
bcarpenter@howardbank.com
Website: www.howardbank.com
MEDIA Bill Atkinson 212 Communications
Bill@AtkinsonStrategic.com 443-797-4150
Erica Starr Director of Marketing EStarr@HowardBank.com
443-573-4839
Howard Bancorp (NASDAQ:HBMD)
Gráfica de Acción Histórica
De May 2024 a Jun 2024
Howard Bancorp (NASDAQ:HBMD)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024