Lakeland Bancorp LBAI announced that it has filed a renewal universal shelf
registration statement on Form S-3 with the Securities and Exchange Commission
(the "SEC"). Once the SEC declares the shelf registration statement effective,
it will replace the Company's existing shelf registration statement, and will
permit the Company to offer and sell, from time to time, up to $100 million of
equity, debt or other types of securities described in the shelf registration
statement, or any combination of such securities, in one or more future public
offerings. The Company's existing shelf registration statement, which expires
on November 9, 2012, also permitted the Company to offer up to $100 million of
securities.
The filing was made in order to continue to provide the Company with financial
flexibility. The Company does not have any current plans to sell securities
under the new shelf registration statement. If and when the Company offers any
securities under the new registration statement, the Company will prepare and
make available a prospectus supplement that includes the specific terms of the
securities being offered, the use of proceeds and other terms of the offering.
The new shelf registration statement has been filed with the SEC, but has not
yet become effective. Securities may not be sold nor may offers to buy be
accepted prior to the time that the new registration statement becomes
effective. This news release does not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of these
securities in any state in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities law of
any such state.
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