Unity Bancorp Announces Commencement of $6.2 Million Rights Offering

     Unity Bancorp Announces Commencement of $6.2 Million Rights Offering

PR Newswire

CLINTON, N.J., June 30, 2014

CLINTON, N.J., June 30, 2014 /PRNewswire/ --Unity Bancorp, Inc. (NASDAQ:
UNTY), parent company of Unity Bank, announced today that it has commenced its
previously disclosed rights offering. On or about July 7, 2014, the Company
will distribute to holders of its common stock 1 right for each share of
common stock owned as of June 26, 2014. Each subscription right will entitle
its holder to purchase 0.10 shares of common stock of the Company at a
subscription price of $8.30 per share.

The Company will not issue fractional shares upon exercise of the subscription
rights. Instead, the Company will round down any such fractional shares to the
nearest whole share. The rights offering will expire at 5:00 p.m., Eastern
Time, on August 8, 2014 if not extended by the Company in its sole
discretion. However, in no event will the offering period be extended beyond
August 22, 2014.

To the extent that the entire $6.2 million of common shares is not purchased
by the Company's shareholders in the rights offering, the Company reserves the
right to direct those remaining shares to existing shareholders who fully
subscribe or to investors who are not currently shareholders of the Company,
although we do not have any agreement with any such investors to buy shares of
common stock.

Assuming the rights offering is fully subscribed, the Company estimates that
it will receive net proceeds of approximately $6.2 million. The Company
intends to use the proceeds for general corporate purposes, which may include,
among other things, funding our expansion plans, working capital and pursuing
strategic opportunities which may be presented to us from time to time.

This press release shall not constitute an offer to sell or the solicitation
of an offer to buy, nor shall there be any sale of the common stock 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. Any offering of the common stock will only be
made by means of a written prospectus meeting the requirements of Section 10
of the Securities Act of 1933, as amended.

Unity Bancorp, Inc. is a financial service organization headquartered in
Clinton, New Jersey, with approximately $961 million in assets and $768
million in deposits. Unity Bank provides financial services to retail,
corporate and small business customers through its 15 retail service centers
located in Hunterdon, Middlesex, Somerset, Union and Warren Counties in New
Jersey and Northampton County, Pennsylvania. For additional information about
Unity, visit our website at www.unitybank.com, or call 800-618-BANK.

This news release contains certain forward-looking statements, either
expressed or implied, which are provided to assist the reader in understanding
anticipated future financial performance. These statements may be identified
by use of the words "believe", "expect", "intend", "anticipate", "estimate",
"project" or similar expressions. These statements involve certain risks,
uncertainties, estimates and assumptions made by management, which are subject
to factors beyond the company's control and could impede its ability to
achieve these goals. These factors include those items included in our Annual
Report on Form 10-K under the heading "Item IA-Risk Factors" as well as
general economic conditions, trends in interest rates, the ability of our
borrowers to repay their loans, our ability to manage and reduce the level of
our nonperforming assets, and results of regulatory exams, among other
factors.

This communication 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 jurisdiction in which such offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of such
jurisdiction.



SOURCE Unity Bancorp, Inc.

Website: http://www.unitybank.com
Contact: News Media & Financial Analyst Contact: Alan J. Bedner, EVP, Chief
Financial Officer, (908) 713-4308
 
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