- Additional Proxy Soliciting Materials (definitive) (DEFA14A)
26 June 2012 - 10:03PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
Date of Report: June 25, 2012
Southern Community Financial Corporation
North Carolina
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000-33227
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56-2270620
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(State of incorporation)
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(Commission File Number)
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(I.R.S. Employer
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Identification No.)
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4605 Country Club Road, Winston-Salem, North Carolina
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27104
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(Address of principal executive offices)
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(Zip Code)
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Issuer's telephone number: (336) 768-8500
_________________________
Check the appropriate box below if the Form 8-K filing
is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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x
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Item 8.01.
Other Events
Capital Bank Financial Corp. (“Capital Bank Financial”),
formerly known as North American Financial Holdings, Inc., a North Carolina-based national bank holding company, and Southern Community
Financial Corporation (“Southern Community”) announced today that they have agreed to amend the previously announced
Agreement and Plan of Merger between the parties pursuant to which Capital Bank Financial has agreed to acquire Southern Community.
The amendment provides that the consideration to be paid by Capital Bank Financial will consist entirely of cash, in an amount
equal to $3.11 per share of Southern Community common stock.
In addition, and upon consummation of the transaction, Southern
Community’s shareholders will continue to receive a Contingent Value Right, entitling them to cash proceeds of up to $1.30
per share, based on the credit performance of Southern Community’s legacy loan portfolio over the five years following closing.
The amendment also modifies certain of the conditions to the
closing of the merger. The transaction is subject to the approval of Southern Community’s shareholders, receipt of any required
regulatory approvals and other customary closing conditions, and is expected to be consummated in the third quarter of 2012.
A joint press release describing this event was issued by Southern
Community and CBF on June 26, 2012. The press release is included as Exhibit 99.1 to this Form 8-K. and incorporated herein by
reference.
Additional Information
About this Transaction
In connection with the proposed transaction, Southern Community
Financial Corporation (“SCMF”) intends to file with the SEC a proxy statement. SCMF also plans to file other relevant
documents with the SEC regarding the proposed transaction. THE SHAREHOLDERS OF SCMF ARE URGED TO READ THE PROXY STATEMENT AND OTHER
RELEVANT DOCUMENTS FILED WITH THE SEC IF AND WHEN THEY BECOME AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Shareholders
of SCMF will be able to obtain a free copy of the proxy statement (when available) and the other documents filed by SCMF with the
SEC at the SEC’s website at sec.gov. or by accessing SCMF’s website at http://www.smallenoughto care.com under the
heading "Investor Relations" or by directing a request by telephone or mail to Southern Community Financial Corporation,
4605 Country Club Road, Winston-Salem, North Carolina 27104-3521, Attention: Corporate Secretary, (336) 768-8500.
THIS DOCUMENT DOES NOT CONSTITUTE AN OFFER TO SELL, OR THE SOLICITATION
OF AN OFFER TO BUY, ANY SECURITIES, NOR SHALL THERE BE ANY SALE OF SECURITIES IN ANY STATE OR JURISDICTION IN WHICH SUCH AN OFFER,
SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH STATE OR JURISDICTION.
Participants in the Solicitation
SCMF and its directors, executive officers, certain members
of management, and employees may have interests in the proposed transaction or be deemed to be participants in the solicitation
of proxies of SCMF’S shareholders to approve the matters necessary to be approved to facilitate the proposed transaction.
Certain information regarding the participants and their interest in the solicitation is set forth in the proxy statement for SCMF’S
Annual Meeting of Shareholders filed with the SEC on April 13, 2011. Shareholders may obtain additional information regarding the
interests of such participants by reading the proxy statement relating to the proposed transaction when it becomes available.
Item 9.01 Financial Statements and Exhibits.
(
d) Exhibits
Exhibit No.
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Description of Exhibit
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99.1
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Copy of joint press release dated June 26, 2012
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Signatures
Pursuant to the requirements of the Securities Exchange Act
of 1934, Southern Community Financial Corporation has duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
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Southern Community Financial Corporation
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Date: June 26, 2012
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By:
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/s/ F. Scott Bauer
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Name:
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F. Scott Bauer
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Title:
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President and Chief Executive Officer
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