National Mercantile Bancorp Announces Commencement of Private Financing.Business Editors LOS ANGELES--(BUSINESS WIRE)--Nov. 8, 2002 National Mercantile Bancorp (the "Company") (Nasdaq:MBLA MBLA Macedonian Business Lawyers Association MBLA Multi-Beam Laser Altimeter MBLA Man Boy Love Association (usually seen as NAMBLA) MBLA Massachusetts Black Lawyers Association MBLA Mortgage Broker License Act - Common Stock) (Nasdaq:MBLAP - Preferred Stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. ), parent company of Mercantile National Bank ("Mercantile") and South Bay Bank, N.A. ("South Bay"), today announced that it had commenced a private offering of 1,307,190 shares of Common Stock. These shares will not be registered under the Securities Act of 1933 when they are issued, and until so registered may not be offered or sold in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. absent registration or availability of an applicable exemption from registration. The Company has not agreed to register any of the Common Stock relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc this transaction with the SEC. This announcement is not an offer to sell such securities and shall be made by the Company and its placement agent to a limited group of accredited investors. Scott Montgomery, President and Chief Executive Officer of the Company, Mercantile and South Bay, commented, "Significant progress has been made with the integration of South Bay during the first nine months following the acquisition. To fulfill the growth opportunities we see, the Company believes that additional equity capital will permit the Company and its banks to take advantage of such opportunity. The financing will provide important working capital and equity to the Company and its banks." This press release contains statements which constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that involve risk and uncertainties. Actual results may differ materially from the results in these forward-looking statements. Factors that might cause such a difference include, among other things, fluctuations in interest rates, changes in economic conditions or governmental regulation, credit quality and other factors discussed in the Company's Report on Form 10-KSB for the year ended December 31, 2001. About National Mercantile Bancorp: National Mercantile Bancorp is the holding company for Mercantile National Bank and South Bay Bank, N.A., members FDIC FDIC See: Federal Deposit Insurance Corporation FDIC See Federal Deposit Insurance Corporation (FDIC). , with locations in Encino, Century City, El Segundo El Segundo (ĕl sēgŭn`dō), industrial city (1990 pop. 15,223), Los Angeles co., S Calif., on Santa Monica Bay; inc. 1917. Its products include navigation and computer systems, aircraft parts, office machines, telephone apparatus, and and Torrance, California. The banks offer a wide range of financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. to the real estate and real estate construction markets, the entertainment industry, the professional, healthcare and executive markets, community-based non-profit organizations, escrow escrow Instrument, such as a deed, money, or property, that constitutes evidence of obligations between two or more parties and is held by a third party. It is delivered by the third party only upon fulfillment of some condition. companies and business banking. |
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