First Internet Bancorp Announces Extension of Exchange Offer for Subordinated Notes with a Fixed Rate of 3.75% Maturing in 2031. known
FISCHER, Ind .– (BUSINESS WIRE) – First Internet Bancorp (the “Company”) (Nasdaq: INBK) announced today that it has extended its offer to exchange up to $ 60,000,000 in total face value through December 30, 2021 at 11:59 p.m. New York time of 3.75% fixed-to-variable subordinated debt maturing 2031 (the “Exchangeable Notes”) registered under the Securities Act of 1933 (the “Act”) for an equal total notional of their unregistered 3.75% outstanding Fixed to floating rate subordinated notes maturing in 2031 (the “Original Notes”) to enable holders to make the exchange offer. With the exception of the extension of the expiry date, all conditions of the exchange offer remain set out in the company’s prospectus dated November 17, 2021.
The original Notes were issued on August 16, 2021 in a transaction that is exempt from registration under the law. The terms of the Convertible Notes are essentially identical to the terms of the Original Notes, except that the Convertible Notes have been registered in accordance with the law, are not subject to transfer restrictions and do not entitle their holders to registration rights or special interests. On December 22, 2021, the original expiration date of the exchange offer, at 11:59 p.m. New York time, $ 53,300,000 of the face value of the Original Notes outstanding, equal to 88.83% of the face value of the Original Notes outstanding Notes, were in exchange for an equal Total nominal amount of the exchangeable bonds validly tendered.
This press release is for informational purposes only and does not constitute an offer to buy or sell convertible bonds or an invitation to make an offer to sell or buy convertible bonds. The exchange offer has only been made pursuant to a prospectus filed with the Securities and Exchange Commission (the “SEC”) as part of the company’s registration statement on Form S-4 (File Number 333-260282). The registration statement was declared effective by the SEC on November 17, 2021.
Via First Internet Bancorp
First Internet Bancorp is a bank holding company with assets of $ 4.3 billion as of September 30, 2021. The company’s subsidiary, First Internet Bank, began operations in 1999 as an industry pioneer in the branchless provision of banking services. The bank provides consumer and small business deposits, SBA finance, residential mortgage loans, consumer and specialty finance nationwide, and commercial property loans, home loans, commercial and industrial loans, and treasury management services on a regional basis. First Internet Bancorp’s common stock trades on the Nasdaq Global Select Market under the symbol “INBK” and is part of the Russell 2000® Index. You can find more information about the company at www.firstinternetbancorp.com and more information about the bank, including its products and services, at www.firstib.com.