Premier Financial Corp. Announces Pricing of $50 Million of Fixed-to-Floating Rate Subordinated Notes
26 September 2020 - 7:18AM
Business Wire
Premier Financial Corp. (NASDAQ: PFC) (“Premier” or the
“Company”) announced today that it has priced its offering of $50.0
million aggregate principal amount of 4.00% fixed-to-floating rate
subordinated notes due 2030 (the “Notes”) in a private offering
exempt from the registration requirements under the Securities Act
of 1933, as amended (the “Securities Act”). The sale of the Notes
is subject to customary closing conditions and is expected to close
on September 30, 2020.
Premier intends to use the net proceeds from the offering of the
Notes for general corporate purposes.
The Notes will be offered and sold only to persons reasonably
believed to be qualified institutional buyers in reliance on Rule
144A under the Securities Act and to certain institutional
accredited investors in exempt transactions under the Securities
Act. The offering of the Notes has not been registered under the
Securities Act or under any state securities laws, and the Notes
may not be offered or sold in the United States absent registration
or an applicable exemption from the registration requirements of
the Securities Act and from applicable state securities laws.
This press release is neither an offer to sell nor the
solicitation of an offer to buy any of the Notes and shall not
constitute an offer, solicitation or sale in any jurisdiction in
which such an offer, solicitation or sale would be unlawful.
About Premier Financial Corp.
Premier Financial Corp. (NASDAQ: PFC), headquartered in
Defiance, Ohio, is the holding company for Premier Bank and First
Insurance Group. Premier Bank, headquartered in Youngstown, Ohio,
operates 78 branches, 12 loan offices and 2 wealth offices in Ohio,
Michigan, Indiana, Pennsylvania and West Virginia (West Virginia
office operates as “Home Savings Bank”). First Insurance Group is a
full-service insurance agency with 10 offices in Ohio including
James & Sons Insurance in Youngstown, Ohio. For more
information, visit the company’s website at PremierFinCorp.com.
Safe Harbor Statement Under the Private Securities Litigation
Reform Act of 1995
The statements contained in this press release relating to the
offering of the Notes are forward-looking statements made pursuant
to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. These statements involve risks and
uncertainties that could cause actual results to differ materially
from those expressed in the Company’s forward-looking statements.
Forward-looking statements by their nature address matters that
are, to different degrees, uncertain. Particular uncertainties that
could cause the Company's actual results to be materially different
than those expressed in the Company's forward-looking statements
include, but are not limited to, the factors disclosed under
“Forward-Looking Statements” and “Risk Factors” in our Form 10-K
for the year ended December 31, 2019 and in our Forms 10-Q for the
quarterly periods ended March 31, 2020 and June 30, 2020, and other
filings with the Securities and Exchange Commission.
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version on businesswire.com: https://www.businesswire.com/news/home/20200925005528/en/
Paul Nungester EVP and CFO 419.785.8700
PNungester@first-fed.com
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