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OSBC > SEC Filings for OSBC > Form 8-K on 2-May-2014All Recent SEC Filings

Show all filings for OLD SECOND BANCORP INC



Other Events

Item 8.01 Other Events.

On April 28, 2014, the Company repurchased 25,669 shares of its Series B Fixed Rate Cumulative Perpetual Preferred Stock (the "Series B") from certain holders, which included certain of the Company's officers and directors, at a repurchase price of 94.75% of the per share liquidation value, or $947.50 per share, for a total repurchase price of approximately $24.3 million. The holders of such shares also waived their rights to any dividends on the Series B, and such holders will not receive any part of the declared dividend on the Series B.

The Company's repurchase of the Series B was done in connection with its successful public offering of 15,525,000 shares of its common stock. The terms of the Series B repurchase were consistent with the terms previously disclosed in the Company's registration statement for its public offering.

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