Attached files
file | filename |
---|---|
S-1/A - FORM S-1/A - FIRST BANCORP /PR/ | g27866a1sv1za.htm |
EX-5.1 - EX-5.1 - FIRST BANCORP /PR/ | g27866a1exv5w1.htm |
EX-3.2 - EX-3.2 - FIRST BANCORP /PR/ | g27866a1exv3w2.htm |
EX-3.1 - EX-3.1 - FIRST BANCORP /PR/ | g27866a1exv3w1.htm |
EX-99.4 - EX-99.4 - FIRST BANCORP /PR/ | g27866a1exv99w4.htm |
EX-99.8 - EX-99.8 - FIRST BANCORP /PR/ | g27866a1exv99w8.htm |
EX-4.11 - EX-4.11 - FIRST BANCORP /PR/ | g27866a1exv4w11.htm |
EX-99.5 - EX-99.5 - FIRST BANCORP /PR/ | g27866a1exv99w5.htm |
EX-23.1 - EX-23.1 - FIRST BANCORP /PR/ | g27866a1exv23w1.htm |
EX-99.7 - EX-99.7 - FIRST BANCORP /PR/ | g27866a1exv99w7.htm |
EX-4.12 - EX-4.12 - FIRST BANCORP /PR/ | g27866a1exv4w12.htm |
EX-99.6 - EX-99.6 - FIRST BANCORP /PR/ | g27866a1exv99w6.htm |
EX-99.2 - EX-99.2 - FIRST BANCORP /PR/ | g27866a1exv99w2.htm |
EX-99.3 - EX-99.3 - FIRST BANCORP /PR/ | g27866a1exv99w3.htm |
EX-10.25 - EX-10.25 - FIRST BANCORP /PR/ | g27866a1exv10w25.htm |
EX-10.28 - EX-10.28 - FIRST BANCORP /PR/ | g27866a1exv10w28.htm |
Exhibit 99.1
INSTRUCTIONS FOR
USE OF FIRST BANCORP. RIGHTS CERTIFICATE AND
SUBSCRIPTION FORM
SUBSCRIPTION FORM
Consult
the subscription agent, or your bank or broker as to any
questions.
The following instructions relate to a rights offering (the
Rights Offering) by First BanCorp. (we,
us, our or the Corporation)
to the holders of record (the Record Holders) of our
common stock (the Common Stock), as described
further in the Corporations prospectus dated
October , 2011 (the Prospectus).
Record Holders of the Common Stock as of 5:00 p.m., New
York City time, on September 6, 2011 (the Record
Date) are receiving, at no charge, transferable
subscription rights (the Subscription Rights), which
are evidenced by rights certificates and subscription forms
(each, a Subscription Form), to subscribe for and
purchase shares of the Common Stock. In the Rights Offering, we
are offering up to an aggregate of 10,651,835 shares of
Common Stock to be issued upon the exercise of the Subscription
Rights. Each Record Holder will receive, at no charge, one
Subscription Right for each share of Common Stock that the
Record Holder owned on the Record Date.
The Subscription Rights will expire, if not exercised prior to
5:00 p.m., New York City time,
on ,
2011 (the Expiration Date), or upon an earlier date
if the Corporation elects to cancel the Rights Offering. Two
Subscription Rights entitle the holder to purchase one share of
Common Stock at a subscription price of $3.50 per share. For
example, if you owned 1,000 shares of Common Stock on the
Record Date, you would receive 1,000 Subscription Rights and
would have the right to purchase 500 shares of Common Stock
for $3.50 per share.
Your Subscription Rights are evidenced by the Subscription Form.
Your Subscription Rights are transferable from the commencement
of the Rights Offering until 4:00 p.m., Eastern Time, on
the last trading day before the Expiration Date. You may
transfer all or a portion of your Subscription Rights by
following the instructions on your Subscription Form.
Each Record Holder will be required to submit payment in full
for all of the shares of Common Stock that the Record Holder
wishes to buy in the Rights Offering before the Expiration Date.
Any excess subscription payments received by BNY Mellon
Shareowner Services (the Subscription Agent) will be
returned, without interest or penalty, as soon as practicable
following the completion of the Rights Offering.
The Subscription Agent must receive your Subscription Form or a
properly completed and delivered Notice of Guaranteed Delivery,
in either case with full payment of the total subscription
amount, including final clearance of any personal checks, before
5:00 p.m., New York City time, on the Expiration Date. Once
you have exercised your Subscription Rights, you cannot revoke
the exercise of your Subscription Rights. If you do not exercise
your Subscription Rights before the Expiration Date, they will
expire void and worthless and you will have no further rights
under them.
The number of Subscription Rights to which you are entitled and
the corresponding number of shares of Common Stock that you may
subscribe to purchase in the Rights Offering are printed on the
face of your Subscription Form. You should indicate your wishes
with regard to the exercise of your Subscription Rights by
completing the appropriate portions of your Subscription Form
and returning the Subscription Form to the Subscription Agent in
the envelope provided.
THE SUBSCRIPTION FORM, OR NOTICE OF GUARANTEED DELIVERY, IN
EITHER CASE WITH FULL PAYMENT OF THE TOTAL SUBSCRIPTION AMOUNT
FOR ALL SHARES OF COMMON STOCK SUBSCRIBED FOR IN THE RIGHTS
OFFERING, INCLUDING FINAL CLEARANCE OF ANY PERSONAL CHECKS, MUST
BE RECEIVED BY THE SUBSCRIPTION AGENT, BEFORE 5:00 P.M.,
NEW YORK CITY TIME, ON THE EXPIRATION DATE. ONCE A RECORD HOLDER
HAS EXERCISED ANY SUBSCRIPTION RIGHTS, SUCH EXERCISE MAY NOT BE
1
REVOKED. SUBSCRIPTION RIGHTS THAT ARE NOT EXERCISED PRIOR TO
5:00 P.M., NEW YORK CITY TIME, ON THE EXPIRATION DATE WILL
EXPIRE.
1. | Method of SubscriptionExercise of Subscription Rights |
To exercise your Subscription Rights, complete your Subscription
Form and send the properly completed and executed Subscription
Form evidencing such Subscription Rights, together with payment
in full of the total required subscription amount for all of the
shares you intend to purchase in the Rights Offering, to the
Subscription Agent, by no later than 5:00 p.m., New York
City time, on the Expiration Date. Your full payment will be
held in a segregated account to be maintained by the
Subscription Agent.
Your payment of the subscription price must be made in
U.S. dollars and must be delivered in one of the following
ways:
| personal check drawn upon a U.S. bank payable to Mellon Investor Services LLC; or |
certified or cashiers check drawn upon a
U.S. bank payable to Mellon Investor Services LLC.
Payments will be deemed to have been received upon clearance of
any personal check or receipt by the Subscription Agent of any
certified check or bank draft drawn upon a U.S. bank. If
you pay by personal check, please note that your payment may
take five (5) or more business days to clear. Accordingly,
if you wish to pay your subscription amount by means of personal
check, we urge you to deliver your payment to the Subscription
Agent sufficiently in advance of the Expiration Date to ensure
that your payment is received and clears by the Expiration Date,
and we also urge you to consider making your payment by means of
a certified or cashiers check.
The Subscription Form and full payment of the total subscription
amount must be delivered to the Subscription Agent by one of the
methods described below:
By mail: BNY Mellon Shareowner Services Attn: Corporate Action Department P.O. Box 3301 South Hackensack, New Jersey 07606 |
By overnight courier or by hand: BNY Mellon Shareowner Services Attn: Corporate Action Department, 27th Floor 480 Washington Boulevard Jersey City, New Jersey 07310 |
Delivery to any address or by a method other than those set
forth above does not constitute valid delivery.
If you have any questions, require any assistance in exercising
your Subscription Rights, or require additional copies of
relevant documents, please contact the Subscription Agent, The
Bank of New York Mellon, by telephone, if you are located within
the U.S., Canada or Puerto Rico, at 1-866-415-9687 (toll free)
or, if you are located outside the U.S., at 1-201-680-6579
(collect).
By making arrangements with your bank or broker for the delivery
of funds on your behalf, you may also request such bank or
broker to exercise the Subscription Form on your behalf.
Alternatively, you may request a member firm of a registered
national securities exchange or a member of the Financial
Industry Regulatory Authority, Inc., or a commercial bank or
trust Corporation having an office or correspondent in the
United States, or a bank, stockbroker, savings and loan
association or credit union with membership in an approved
signature guarantee medallion program, pursuant to
Rule 17Ad-15
of the Securities Exchange Act of 1934, as amended (each an
Eligible Institution), to deliver a written
guarantee in the form included with these instructions (the
Notice of Guaranteed Delivery), together with
payment in full of your total subscription amount, to the
Subscription Agent by no later than 5:00 p.m., New York
City time, on the Expiration Date. Such Notice of Guaranteed
Delivery must state your name, the number of Subscription
2
Rights represented by your Subscription Form, the number of
shares of Common Stock that you intend to purchase in the Rights
Offering, and that you will guarantee the delivery to the
Subscription Agent of a properly completed and executed
Subscription Form evidencing such election in the Rights
Offering by no later than three (3) business days after the
Expiration Date. For purposes of such Notice of Guaranteed
Delivery, business day means any day on which
trading is conducted on the NYSE. If this procedure is followed,
the properly completed Subscription Form must be received by the
Subscription Agent within three (3) business days after the
Expiration Date. The Notice of Guaranteed Delivery may be
delivered to the Subscription Agent in the same manner as the
Subscription Form at the address set forth above or may be
transmitted, if transmitted by an Eligible Institution, to the
Subscription Agent by facsimile transmission to Facsimile
No. 1-201-680-4626.
You should confirm receipt of all facsimile transmissions by
calling the Subscription Agent at 1-201-296-4860. Additional
copies of the Notice of Guaranteed Delivery may be obtained upon
request from the Subscription Agent by calling, if you are
located within the U.S., Canada or Puerto Rico, at
1-866-415-9687 (toll free) or, if you are located outside the
U.S., at 1-201-680-6579 (collect).
If you do not indicate the number of Subscription Rights being
exercised, or do not forward full payment of the total
subscription amount, then you will be deemed to have exercised
the maximum number of Subscription Rights that may be exercised
with the amount of payment that you delivered to the
Subscription Agent. If the Subscription Agent does not apply
your full subscription payment to your purchase of shares of
Common Stock, any excess subscription payment received by the
Subscription Agent will be returned to you, without interest, as
soon as practicable following the completion of the Rights
Offering.
Brokers, custodian banks, and other nominee holders of
Subscription Rights who exercise the Subscription Rights on
behalf of beneficial owners of Subscription Rights will be
required to certify to the Corporation and the Subscription
Agent with respect to each beneficial owner of Subscription
Rights (including such nominee itself) on whose behalf such
nominee holder is acting, as to the aggregate number of
Subscription Rights that have been exercised and the
corresponding number of shares of Common Stock subscribed for in
the Rights Offering.
2. | Issuance of Common Stock |
The following deliveries and payments will be made to the
address shown on the face of your Subscription Form, unless you
provide instructions to the contrary in your Subscription Form.
(a) Subscription Rights. As soon as
practicable after the Expiration Date and the valid exercise of
your Subscription Rights, the Subscription Agent will credit
your account with the shares of Common Stock you have purchased
pursuant to the exercise of your Subscription Rights.
(b) Excess Cash Payments. As soon as
practicable after the Expiration Date, any excess subscription
payment that you have paid to the Subscription Agent will be
returned, without interest or penalty, to you.
3. | Execution |
Execution by Registered Holder. The signature
on the Subscription Form must correspond with the name of the
registered holder exactly as it appears on the face of the
Subscription Form without any alteration or change whatsoever.
Execution by Person Other than Registered
Holder. If the Subscription Form is executed by a
person other than the holder named on the face of the
Subscription Form, proper evidence of authority of the person
executing the Subscription Form must accompany the same, unless,
for good cause, the Subscription Agent dispenses with proof of
authority.
3
4. | Method of Delivery |
The method of delivery of the Subscription Form and payment in
full of the total subscription amount to the Subscription Agent
will be at the election and risk of the holders of the
Subscription Rights. If sent by mail, we recommend that you send
your Subscription Form and subscription payment by overnight
courier or by registered mail, properly insured, with return
receipt requested, and that you allow a sufficient number of
days to ensure delivery to the Subscription Agent and clearance
of payment prior to the Expiration Date. We urge you to consider
using a certified or cashiers check to ensure that the
Subscription Agent receives your funds prior to the Expiration
Date. If you send a personal check, payment will not be deemed
to have been received by the Subscription Agent until the check
has cleared, which may take five (5) or more business days,
but if you send a certified check or a bank draft drawn upon a
U.S. bank, payment will be deemed to have been received by
the Subscription Agent immediately upon receipt of your payment.
If you wish to pay your subscription payment by means of a
personal check, we urge you to deliver your payment to the
Subscription Agent sufficiently in advance of the Expiration
Date to ensure that your payment is received and clears by the
Expiration Date.
5. Special
Provisions Relating to the Delivery of Subscription Rights
through the Depository Trust Corporation
In the case of Subscription Rights that are held of record
through The Depository Trust Corporation (DTC),
exercises of the Subscription Rights may be effected by
instructing DTC to transfer the Subscription Rights from the DTC
account of such holder to the DTC account of the Subscription
Agent and by delivering to the Subscription Agent the required
certification as to the number of shares of Common Stock
subscribed for in the Rights Offering by each beneficial owner
of Subscription Rights on whose behalf such nominee is acting,
together with payment in full of the total subscription amount
for all of the shares of Common Stock subscribed for in the
Rights Offering on behalf of all such beneficial owners.
4