Transactions by EASTERN VIRGINIA BANKSHARES (EVBS) in the last 6 months

Eastern Virginia Bankshares Inc. (NasdaqGS:EVBS) announced a private placement of 4,649,919 common shares and 5,240,192 new series of non-voting mandatorily convertible non-cumulative series B preferred shares at a price of $4.55 per share each for gross proceeds of $45,000,005.05 on March 26, 2013. The transaction will include participation from new investors, Castle Creek Capital Partners IV, LP a fund managed by Castle Creek Capital Partners, GCP III EVB LLC an affiliate ... of GCP Capital Partners, and certain other institutional investors. Castle Creek Capital Partners will participate in the transaction for 1,061,225 common shares and 4,048,670 series B preferred shares for gross proceeds of $23,250,022.25 and GCP Capital Partners will participate for 1,061,225 common shares and 1,191,522 series B preferred shares for gross proceeds of $10,249,998.85. The company will issue securities pursuant to exemption provided under Regulation D. As part of the transaction, one representative of Castle Creek Capital Partners and GCP Capital Partners each will join the board of the company which currently has 13 directors. Jacob A. Lutz of Troutman Sanders LLP will act as legal advisor to the company. Matthew M. Guest of Wachtell, Lipton, Rosen & Katz will act as legal advisor to Castle Creek Capital partners. Frank M. Conner of DLA Piper US LLP will act as legal advisor to GCP Capital partners. Keefe, Bruyette & Woods, Inc. will act as the exclusive placement agent to the company for the transaction. The company will pay approximately $2,700,000 as compensation to the agent. The investors will not own more than 9.9% stake in the company or 33.3% of its total equity outstanding, each as calculated under the applicable regulations of the board of Governors of the Federal Reserve System. The transaction is subject to shareholders' approval and other conditions which the company presently expects to be satisfied in the second quarter of 2013. The company shall reimburse up to $150,000 of the reasonable and documented costs and expenses incurred by the investor in connection with the transaction. The company shall also reimburse the investor for the reasonable fees and disbursements of holders’ counsel in an amount not to exceed $27,500 per registration. On April 8, 2013, the company announced that it will receive funding from 18 investors.
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