ATLANTA, Dec. 4, 2019 /PRNewswire/ -- Ameris Bancorp
(Nasdaq: ABCB) (the "Company"), the parent holding company of
Ameris Bank, announced today that it
has priced $120 million of its 4.25%
fixed-to-floating rate subordinated notes due 2029 (the "Notes").
The Notes have an initial fixed interest rate of 4.25% until
December 15, 2024, payable
semi-annually in arrears, and a 10-year term and were offered to
the public at par. Commencing December 15,
2024, the interest rate on the Notes resets quarterly to a
floating rate per annum equal to a Benchmark rate, which is
expected to be the then-current three-month term SOFR plus 294
basis points, payable quarterly in arrears. Sandler O'Neill +
Partners, L.P. acted as the sole underwriter for the offering.
The Company expects to close the transaction, subject to
customary closing conditions, on or about December 6, 2019. The Company expects to use the
net proceeds of this offering to repay certain outstanding
indebtedness and the remainder for general corporate purposes.
Additional Information Regarding the Offering
This press release is for informational purposes only and is not
an offer to sell or the solicitation of an offer to buy any
securities of the Company, which will be made only by means of a
prospectus supplement and accompanying prospectus, nor will
there be any sale of these securities in any state or jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any
such state or jurisdiction. The Company has filed a registration
statement on Form S-3 (File No. 333-216254) and a prospectus
supplement with the U.S. Securities and Exchange Commission ("SEC")
for the offering to which this communication relates. Prospective
investors should read the prospectus in that registration
statement, the preliminary prospectus supplement and other
documents that the Company has filed with the SEC for more complete
information about the Company and the offering. These documents are
available at no charge by visiting the SEC's website at
http://www.sec.gov. The offering will be made only by means of a
prospectus supplement and accompanying prospectus, copies of
which may be obtained from Sandler O'Neill + Partners, L.P., 1251
Avenue of the Americas, 6th Floor, New
York, New York 10020, Attn: Syndicate Operations, Telephone
Number: 1 (866) 805-4128.
About Ameris Bancorp
Ameris Bancorp is a bank holding company headquartered in
Atlanta, Georgia. The Company's
banking subsidiary, Ameris Bank, has
170 locations in Georgia,
Alabama, Florida and South
Carolina.
The Company's common stock trades on the Nasdaq Global Select
Market under the symbol "ABCB."
Forward-Looking Statements
This news release contains statements that constitute
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. The words
"believe", "estimate", "expect", "intend", "anticipate" and similar
expressions and variations thereof identify certain of such
forward-looking statements, which speak only as of the dates which
they were made. The Company undertakes no obligation to
publicly update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise.
Readers are cautioned that any such forward-looking statements are
not guarantees of future performance and involve risks and
uncertainties and that actual results may differ materially from
those indicated in the forward-looking statements as a result of
various factors. Readers are cautioned not to place undue
reliance on these forward-looking statements and are referred to
the Company's periodic filings with the SEC for a summary of
certain factors that may impact the Company's results of operations
and financial condition.
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SOURCE Ameris Bancorp