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EX-99.1 - EX-99.1 - BANK OF THE JAMES FINANCIAL GROUP INC | d935519dex991.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): July 8, 2020
BANK OF THE JAMES FINANCIAL GROUP, INC.
(Exact Name of Registrant as Specified in Its Charter)
Virginia | 001-35402 | 20-0500300 | ||
(State or other jurisdiction of incorporation or organization) |
(Commission File Number) | (I.R.S. Employer Identification No.) | ||
828 Main Street, Lynchburg, VA | 24504 | |||
(Address of principal executive offices) | (Zip Code) |
(434) 846-2000
(Registrants telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of Each Class |
Trading Symbol(s) |
Name of Each Exchange on Which Registered | ||
Common Stock, $2.14 par value | BOTJ | The NASDAQ Capital Market |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01 - Other Events
On Wednesday, July 8, 2020, Bank of the James Financial Group, Inc. (the Company) completed its previously-reported private placement of unregistered debt securities (the 2020 Offering). In the 2020 Offering, the Company offered and has closed subscriptions for $10,050,000 in aggregate principal of unsecured promissory notes (the 2020 Notes). The 2020 Notes bear interest at the rate of 3.25% per year with interest payable quarterly in arrears. The 2020 Notes will mature on June 30, 2025 and are subject to full or partial repayment on or after June 30, 2021. $5,000,000 of the proceeds was used to fully redeem the Companys outstanding 4.00% notes that were issued in 2017. The Company intends to use the remaining proceeds for general corporate purposes, which may include a contribution of capital to the Companys wholly-owned bank subsidiary, Bank of the James and to pay interest on the 2020 Notes.
On Thursday, July 9, 2020, the Company issued a press release announcing the completion of the 2020 Offering (the Press Release). A copy of the Press Release is attached hereto as Exhibit 99.1.
The information in this Current Report on Form 8-K, including Exhibit 99.1, shall not be considered filed for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended (the Exchange Act), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act.
Item 9.01 - Financial Statements and Exhibits.
(a) Financial statements of businesses acquired not applicable
(b) Pro forma financial information not applicable
(c) Shell company transactions not applicable
(d) Exhibits
Exhibit No. | Exhibit Description | |
99.1 | Bank of the James Financial Group, Inc. Press Release dated July 9, 2020 |
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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 hereunto duly authorized.
Date: July 9, 2020 | BANK OF THE JAMES FINANCIAL GROUP, INC. | |||||
By: | /s/ J. Todd Scruggs | |||||
J. Todd Scruggs | ||||||
Secretary-Treasurer |
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