Attached files
| file | filename |
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| EX-99.1 - CASCADE BANCORP | v195676_ex99-1.htm |
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
Date of
Report (Date of earliest event reported): August 30,
2010
CASCADE
BANCORP
(Exact
name of Registrant as specified in its charter)
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Oregon
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0-23322
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93-1034484
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(State
or other jurisdiction of
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(Commission
File Number)
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(I.R.S.
Employer Identification No.)
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incorporation
or organization)
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1100
NW Wall Street
Bend,
Oregon 97701
(Address
of principal executive offices)
(Zip
Code)
(541)
385-6205
(Registrant’s
telephone number, including area code)
Check the
appropriate box below if the Form 8-K file is intended to simultaneously satisfy
the filing obligation of the registrant under any of the following
provisions:
|
o
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
|
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o
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|
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o
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
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o
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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ITEM
1.01
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ENTRY
INTO A MATERIAL DEFINITIVE
AGREEMENT.
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On August 30, 2010, Cascade
Bancorp (NASDAQ: CACB) (the “Company”) announced that it entered into an
agreement with each of David F. Bolger ("Mr. Bolger") and an affiliate of
Lightyear Fund II, L.P. ("Lightyear") amending the Securities Purchase
Agreements between the Company and Mr. Bolger and the Company and Lightyear
dated October 29, 2009, as amended February 16, 2010 and further amended June 1,
2010, June 30, 2010, July 15, 2010 and August 31, 2010 (the "Securities Purchase
Agreements") to extend their conditional commitments to September 15,
2010.
Per the
new agreement, the extended date by which conditions of closing must be
satisfied is now September 15, 2010. The sales to Mr. Bolger and to Lightyear
are conditioned upon the Company's simultaneous sale of shares of its common
stock in additional private placements to other investors under separate written
agreements such that the total net proceeds from the offerings is at least $150
million, in addition to the other closing conditions set forth in each of the
Securities Purchase Agreements.
A copy of the press release relating to
the amendments is attached hereto as Exhibit 99.1.
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ITEM
9.01
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FINANCIAL
STATEMENTS AND EXHIBITS
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(a)
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Financial
Statements of Business Acquired
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Not
applicable.
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(b)
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Pro
Forma Financial Information
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Not
applicable.
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(c)
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Shell
Company Transactions
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Not
applicable.
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(d)
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Exhibits
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Exhibit
99.1 Press Release dated August 30, 2010.
SIGNATURE
Pursuant to the requirements of the
Securities Exchange Act of 1934, the registrant has duly caused this report
to be signed on its behalf by the undersigned, thereto duly
authorized.
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CASCADE
BANCORP
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By:
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/s/ Patricia L. Moss
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Patricia
L. Moss
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President
& CEO
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Date: August 30, 2010