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Hampton Roads Bankshares, Inc.
HMPR (the "Company"), the holding company for The Bank of Hampton
Roads ("BHR") and Shore Bank, today announced that it has closed a $50 million
private placement of common stock (the "Private Placement"). The Company
issued an aggregate 71,428,572 common shares at a price of $0.70 per share to
the following entities or their affiliates or managed funds: Anchorage Capital
Group, L.L.C., CapGen Capital Group VI LP and The Carlyle Group (together, the
"Investors") pursuant to the terms of a standby purchase agreement between the
Investors and the Company.
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