Synovus Financial Corp. (NYSE:SNV) Files An 8-K Entry into a Material Definitive AgreementItem 1.01 Entry into a Material Definitive Agreement
On June 12, 2018, Synovus Financial Corp. (the “Company”) entered into an Underwriting Agreement (the “Underwriting Agreement”), by and among the Company, Citigroup Global Markets Inc. and Merrill Lynch, Pierce, Fenner & Smith Incorporated, as representatives of the several underwriters named therein (the “Underwriters”), to which the Company agreed to issue and sell (the “Offering”) to the Underwriters an aggregate of 8,000,000 shares of Fixed-To-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series D, with a liquidation preference of $25.00 per share, of the Company (the “Series D Preferred Stock”), as described in a prospectus supplement, dated June 12, 2018, filed with the U.S. Securities and Exchange Commission (the “Commission”) on June 14, 2018.
The shares of Series D Preferred Stock to be issued and sold by the Company in the Offering were registered to the Registration Statement on FormS-3ASR(Commission FileNo.333-212916),which was filed with the Commission on August 4, 2016 (the “Registration Statement”).
The Underwriting Agreement contains customary representations, warranties and covenants of the Company, conditions to closing, indemnification obligations of the Company and the Underwriters, and termination and other customary provisions.
The Company expects the offering to close on June 21, 2018, subject to customary closing conditions.
The Underwriting Agreement is filed as Exhibit 1.1 to this Current Report on Form 8-K and is incorporated by reference herein and into the Registration Statement.
Item 8.01 Other Events
On June 12, 2018, the Company issued a press release in connection with the commencement of the Offering. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated by reference herein.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits.
SYNOVUS FINANCIAL CORP ExhibitEX-1.1 2 exhibit11underwritingagree.htm EXHIBIT 1.1 Exhibit Exhibit 1.1SYNOVUS FINANCIAL CORP.8,…To view the full exhibit click here
About Synovus Financial Corp. (NYSE:SNV)
Synovus Financial Corp. is a financial services and a bank holding company. The Company provides integrated financial services, including commercial and retail banking, financial management, insurance and mortgage services to its customers through over 30 locally branded banking divisions of its subsidiary bank, Synovus Bank, and other offices in Georgia, Alabama, South Carolina, Florida and Tennessee. Synovus Bank offers commercial banking services and retail banking services. Its commercial banking services include cash management, asset management, capital markets services, institutional trust services and commercial, financial and real estate loans. Its retail banking services include accepting customary types of demand and savings deposits accounts; mortgage, installment and other retail loans; investment and brokerage services; safe deposit services; automated banking services; automated fund transfers; Internet-based banking services, and bank credit card services.
