SmartFinancial, Inc. announced the extension of its exchange offer for $100.0 million aggregate principal amount of 7.25% Fixed-to-Floating Rate Subordinated Notes due 2035.
The offer allows exchange of outstanding unregistered notes issued in a private placement on August 20, 2025.
The original expiry date of January 2, 2026, has been extended to January 9, 2026.
Extended Exchange Offer
Extension of offer to exchange $100.0 million of 7.25% Subordinated Notes due 2035.
Outstanding Notes Tendered
As of January 2, 2026, $82.5 million or 82.5% of the outstanding notes have been tendered for exchange.
Terms and Conditions
The terms of the exchange offer are detailed in the prospectus dated December 3, 2025, and the letter of transmittal.
- SmartFinancial's decision to extend the offer indicates investor interest in the exchange of subordinated notes.
- The response of tendered notes represents a significant portion of the outstanding notes, showing favorable market response.
The extension of the exchange offer by SmartFinancial reflects the company's strategic approach towards addressing capital requirements and investor engagement in the financial market.