Avidbank Holdings, Inc. (AVBH) Form 8-K — Aug 27, 2026
Avidbank Holdings, Inc. completed a $30 million private placement of 7.00% Fixed-to-Floating Rate Subordinated Notes due 2036 on August 26, 2026, selling the notes at 100% of face amount to institutional accredited investors and qualified institutional buyers. The new notes pay a fixed 7.00% annual coupon through September 1, 2031, then reset quarterly to three-month term SOFR plus 291 basis points, and are intended to qualify as Tier 2 regulatory capital. They become redeemable at the company's option in whole or in part on or after September 1, 2031.
Key figures
- Debt Amount
- 30000000
- Interest Rate
- 7.00% fixed through September 1, 2031, then quarterly reset at 3-month term SOFR + 291 bps
- Maturity Date
- 2036-09-01
- Exemption
- Section 4(a)(2) and Rule 506(b) of Regulation D private placement
- Issue price
- 100% of face amount
- First call date
- September 1, 2031
- Repurchase price
- approximately $18.2 million including accrued unpaid interest
- Capital treatment
- Tier 2 capital
- Fixed rate period
- August 26, 2026 to September 1, 2031
- Floating rate spread
- 291 basis points over 3-month term SOFR
- Repurchased 2029 notes
- $18 million principal
- Common shares outstanding
- 10,983,480 as of July 31, 2026
- Remaining 2029 redemption
- $4 million on September 30, 2026
- Retired 2029 notes principal
- $22 million at 5.000%
Price after filing
Close on the filing date to close N calendar days later (from $31.86). Historical, not a forecast.
AI analysis
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