Jacksonville Bancorp, Inc. Announces Record Date For Rights Offering
JACKSONVILLE, Fla., Aug. 9, 2013
JACKSONVILLE, Fla., Aug. 9, 2013 /PRNewswire/ -- As previously announced,
Jacksonville Bancorp, Inc. (the "Company") (NASDAQ: JAXB), holding company for
The Jacksonville Bank, intends to conduct a rights offering to existing
shareholders for the purchase of up to 10 million shares of its common stock.
A record date of August 20, 2013 has been set for the planned rights
(Logo: http://photos.prnewswire.com/prnh/20020410/JAXBLOGO )
Upon commencement of the planned rights offering, the Company will distribute
non-transferable subscription rights to purchase shares of its common stock to
each eligible holder of its common stock as of the close of business on August
20, 2013. The subscription rights will expire 30 days after commencement of
the offering, unless the offering period is extended by the Company. Certain
shareholders who were offerees in the Company's December 2012 private
placement will not be eligible to receive rights. The number of shares of the
Company's common stock purchasable upon exercise of the subscription rights
will be calculated based on the total number of outstanding shares of the
Company's common stock held by the eligible shareholders on August 20, 2013.
The Company has filed the registration statement relating to the securities
with the SEC but it has not yet become effective. These securities may not be
offered or sold nor may offers to buy be accepted prior to the time the
registration statement becomes effective.
This press release shall not constitute an offer to sell or a solicitation of
an offer to buy the securities, nor shall there be any offer, solicitation or
sale of the securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification of the securities under the securities laws of such state or
The rights offering will be made only by means of a prospectus, copies of
which will be mailed to all eligible record date shareholders. When available,
copies of the prospectus relating to the rights offering may be obtained from
the subscription agent for the rights offering:
Registrar and Transfer Company
(800) 368-5948 or firstname.lastname@example.org
Jacksonville Bancorp, Inc., a bank holding company, is the parent of The
Jacksonville Bank, a Florida state-chartered bank focusing on the Northeast
Florida market with approximately $522.4 million in assets and eight
full-service branches in Jacksonville and Jacksonville Beach, Duval County,
Florida as well as our virtual branch.The Jacksonville Bank opened for
business on May 28, 1999 and provides a variety of community banking services
to businesses and individuals in Jacksonville, Florida.More information is
available at its website at www.jaxbank.com.
The statements contained in this press release, other than historical
information, are forward-looking statements, which involve risks, assumptions
and uncertainties.The risks, uncertainties and factors affecting actual
results include but are not limited to: our ability to conduct, and the
results of, the rights offering; our ability to dispose of substandard assets
and the disposition prices thereof; economic and political conditions,
especially in North Florida; real estate prices and sales in the Company's
markets; competitive circumstances; bank regulation, legislation, accounting
principles and monetary policies; the interest rate environment; efforts to
increase our capital and reduce our nonperforming assets; and technological
changes.The Company's actual results may differ significantly from the
results discussed in forward-looking statements.Investors are cautioned not
to place undue reliance on forward-looking statements, which speak only as of
the date hereof.The Company does not undertake, and specifically disclaims,
any obligation to publicly release any revisions to these forward-looking
statements to reflect events or circumstances after the date hereof or to
reflect the occurrence of unanticipated events.Additional information
regarding risk factors can be found in the Company's filings with the
Securities and Exchange Commission, including the Company's Annual Report on
Form 10-K for the year ended December 31, 2012 and the Company's Quarterly
Report on Form 10-Q for the quarter ended June 30, 2013.
SOURCE Jacksonville Bancorp, Inc.
Contact: Valerie Kendall at (904) 421-3051 for additional information.
Press spacebar to pause and continue. Press esc to stop.