美国

美国证券交易委员会

华盛顿特区，20549

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表格8-K

当前报告

依据第13或15(D)条

《1934年证券交易法》

 

报告日期(最早报告的事件日期)：2023年7月25日

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根据该法第12(B)条登记的证券：

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第1.01项。签订实质性最终协议

 

合并协议

 

2023年7月25日，马里兰的一家公司加州银行(Bank of California，Inc.)加州银行)， PacWest Bancorp，特拉华州的一家公司(太平洋西部)，以及加州银行的全资子公司、特拉华州公司Cal Merge Sub，Inc.(合并子)，签订了合并协议和计划(合并协议“)。根据条款 并受合并协议所载条件的约束，Merge Sub将与PacWest合并并并入PacWest，PacWest继续作为幸存实体(“合并)、 和合并后，PacWest将与加州银行合并，并并入加州银行(The第二步合并“)，加州银行继续作为幸存的公司(The”幸存的公司)。在第二步合并后，太平洋西部银行，一家加州特许的非成员银行(太平洋西部银行)，并且，在紧接第二步合并之前，PacWest的一家全资子公司将成为美联储系统(The Federal Reserve System)的成员银行FRS会员资格“)及加州银行的全资附属公司。在FRS成员资格生效后，加利福尼亚州银行、全国银行协会和加州银行的全资子公司银行)，将与太平洋西部银行(The Pacific West Bank)合并并并入银行合并与合并和第二步合并一起，合并)，太平洋西部银行继续作为幸存银行(The幸存的银行“)。银行合并后，幸存的银行将以“加州银行”的名称和品牌运营。

 

合并协议获得了加州银行和太平洋西部银行董事会的一致批准。在收到必要的监管和股东批准，以及满足或放弃其他成交条件(其中某些条件如下所述)后，双方预计合并和伴随投资(定义如下)将完成在2023年末或2024年初.

 

合并注意事项

 

根据合并协议中所述的条款和条件，在合并生效时(“有效时间)，每股普通股，每股面值0.01美元，为太平洋西部公司在紧接生效日期前发行并发行的普通股(PacWest 普通股)，除某些例外情况外，将被转换为获得0.6569的股份的权利(兑换率)普通股，每股面值$0.01，加州银行(加州银行普通股而这样的考虑，合并 考虑因素“)。PacWest普通股的持有者还将有权获得现金，以代替加州银行普通股的零碎股份。此外，在第二步合并生效时(第二有效时间)，每股7.75%的固定利率重置非累积永久优先股，A系列，面值每股0.01美元，太平洋西部公司(ThePacWest优先股)将被转换为获得加州银行新创建的一系列优先股中的一股的权利，该系列优先股具有这样的权力、 优先股和权利，以及作为一个整体而言，对PacWest优先股(该优先股)的持有者不会大幅降低的资格、限制和限制新的 银行优先股”).

某些管治事宜

 

合并协议规定，尚存公司的董事会将由12名董事组成，其中(A)8名将是加州银行董事会成员。加州银行董事会)在紧接生效时间之前，(B)三人将成为太平洋西部公司的董事会成员(太平洋西部公司董事会“)在紧接 生效时间之前(”PacWest董事“)，(C)一人将是华平投资者指定的个人(定义如下)。此外，如果收到任何政府实体的任何必要同意或不反对，在紧接生效时间之前的董事董事会负责人将成为尚存公司的董事会主席。根据合并协议，我将F a如果董事继续符合某些资格要求，则加州银行同意提名该董事在合并完成后的头两次年度股东大会上再次当选为尚存公司的董事会成员。合并 结束”).

 

合并协议还规定，截至生效时间，(A)尚存银行的董事会(“幸存的银行董事会“)将有与尚存公司董事会相同的董事；及(B)如收到任何政府实体的任何必要同意或不反对意见，则尚存银行董事会主席将由紧接生效日期前担任银行主席的同一人担任。

 

合并协议进一步规定，自生效之日起，(A)加州银行首席执行官将担任尚存公司的首席执行官，(B)尚存公司和尚存银行的总部将设在加利福尼亚州洛杉矶，(C)尚存公司的名称将保持为“Bank of California，Inc.”。以及(D)幸存银行的名称 将改为“加州银行”。

 

对加州银行股票奖的处理

合并协议规定，在生效时，根据加州银行2018年综合股票激励计划和加州银行2013年综合股票激励计划授予的每个限制性股票单位奖励和每个股票期权加州银行股票计划“)根据适用的加州银行股票计划，在紧接生效时间之前未偿还的股票将被视为已被替换，并将继续未偿还，但须遵守在紧接生效时间之前适用于此类奖励的相同条款和条件，包括关于归属条件；前提是，根据加州银行股票计划授予加州银行董事会非雇员成员的任何限制性股票单位奖励将被授予，并将在合并完成后五个工作日内结算 。合并协议进一步规定，于生效时间内，每项以业绩为基础的限制性股票单位奖励将于合并完成后五个营业日内授予及结算，业绩被视为已达到目标业绩水平 (具有股价目标的奖励除外，其业绩将根据适用的奖励协议确定或将由加州银行董事会薪酬、提名和公司治理委员会在提交S-4表格之前确定)。

太平洋西部股权奖的待遇

合并协议规定，在生效时，根据经修订及重新修订的PacWest 2017股票激励计划(“该计划”)授予的每一项限制性股票奖励太平洋西部股票计划“)将转换为接受合并对价的权利，但须遵守在紧接生效时间之前适用于该等奖励的相同条款及条件，包括关于归属条件的条款及条件；只要授予太平洋西部公司董事会非雇员成员的该等奖励将于生效时间归属。合并协议进一步规定，根据太平洋西部股票计划授予的每一份基于业绩的限制性股票单位奖励(a“PacWest PSU奖)将在生效时间转换为加州银行基于时间的限制性股票单位奖励(aBANC RSU奖“)，但须遵守在紧接生效时间之前适用于此类裁决的相同条款和条件，包括关于归属条件(不包括基于业绩的归属条件)。接受每个BANC RSU奖的加州银行普通股的股票数量将等于(I)在紧接生效时间之前获得PacWest PSU奖的股票数量(基于截至生效时间之前的最后可行日期的实际业绩衡量)乘以(Ii)交换比率。

合并协议的若干其他条款及条件

 

合并协议包含加州银行和太平洋西部银行各自的某些惯例陈述和担保。此外，PacWest和加州银行都同意某些惯例的收盘前契约，包括在所有实质性方面按正常程序经营业务的契约，以及在未经对方同意的情况下不采取某些行动的契约。双方都同意附加契约，其中包括与(A)有关的契约(在加州银行的情况下，根据《合并协议》和《投资协议》(定义见下文)召开股东大会批准发行加州银行普通股的义务(“股票发行“)，在某些例外情况下，以及(Br)加州银行董事会建议其股东批准股票发行的义务，(B)在PacWest的情况下，其召开股东会议通过合并协议的义务，以及(Br)PacWest董事会建议其股东采纳合并协议的义务，以及(C)与替代收购提案有关的相互非要约义务。每一方都同意与另一方进行合理合作，以确定要处置的某些资产池，视合并完成情况而定，并就这些资产处置采取某些其他行动(“资产负债表重新定位 ”).

合并的完成取决于某些成交条件的满足或放弃，包括(A)PacWest股东以必要的投票通过合并协议，以及加州银行股东的必要投票批准股票发行，(B)授权加州银行普通股在股票发行和New BANC优先股发行中在纽约证券交易所上市，以正式发行通知为准。(C)收到联邦储备系统理事会和加利福尼亚州金融保护和创新部的必要监管批准；。(D)没有任何政府实体强加、也没有包含重大负担监管条件(如合并协议所界定)的必要监管批准；。(E)提交给证券交易委员会的S-4表格注册声明的有效性(“美国证券交易委员会“)加州银行与合并协议拟进行的交易有关 ；(F)没有任何命令、强制令、法令或其他法律约束阻止完成合并协议拟进行的交易或任何使完成交易成为非法的法律；及(G)投资结束 (定义如下)基本上与合并完成同时进行。每一方完成合并的义务还受某些附加条件的制约，包括：(I)在某些重大门槛的约束下， PacWest的陈述和担保的准确性，在PacWest的情况下，以及在PacWest的情况下，包括没有重大不利影响(如合并协议中所定义的)， (Ii)PacWest在所有重要方面的表现，在PacWest的情况下，以及在PacWest的情况下，加州银行和Merge Sub，以及加州银行和Merge Sub的情况下，合并协议项下其各自的义务，以及(Iii)该 方收到其律师的意见，大意是合并和第二步合并加在一起将符合经修订的1986年国内税法第(368(A)节)所指的重组。

合并协议为加州银行和太平洋银行提供了某些终止权。合并协议还规定，在某些情况下，当合并协议终止时，太平洋银行或加州银行将支付3,950万美元的终止费。此外，在合并协议终止后，任何一方可能被要求 偿还另一方与资产负债表重新定位相关的部分或全部费用。

 

投票协议

 

在签订合并协议的同时，加州银行与太平洋西部银行董事会的每一位成员(“投票协议“)。表决协议除其他事项外，要求每一位董事(仅以股东的身份)(A)投票表决他们所拥有的太平洋西部普通股的所有股份：(I)赞成通过合并协议，(Ii)反对可能阻止或实质性推迟合并的替代交易或其他提议，(B)在某些情况下就其股份授予相应的代理 ，(C)不得直接或间接转让、出售、转让或以其他方式处置其所持太平洋西部普通股股份，受某些例外情况的限制。加州银行董事会成员与PacWest订立了投票协议(仅以股东的身份)，其中包括与投票协议类似的契诺。

投资协议

 

在签订合并协议的同时，加州银行与Warburg Pincus LLC管理的 基金的附属公司签订了单独的投资协议，每份协议的日期均为2023年7月25日。华平投资者而这样的协议，即华平投资 协议)以及由Centerbridge Partners，L.P.及其关联公司(TheCenterbridge投资者而且， 与华平投资者一起，投资者，以及此类协议、“中心桥投资协议”和“华宝投资协议”，投资协议“)。根据《投资协议》，根据协议所载条款及条件，在合并完成的同时，(A)投资者将投资合共4亿美元，以换取以每股12.30美元的收购价出售及发行约(I)2180万股加州银行普通股及(Ii)约1080万股新类别的加州银行无投票权普通股(“BANC非投票权CE股票“)，及(B)加州银行将向(I)Warburg Investors发行 认股权证，以购买约1,590万股无投票权CE银行股票，及(Ii)Centerbridge Investors认股权证，购买约300万股加州银行普通股，该等认股权证的行使价为每股15.375美元(较购买加州银行普通股及无投票权CE银行股票的价格溢价25%)。”认股权证连同(A)条，投资“)。认股权证的有效期为7年，但在任何连续30个交易日内，当加州银行普通股的市场价格达到或超过24.60美元(比Warburg Investors和Centerbridge Investors为加州银行普通股和BANC Non-Voting CE股票支付的价格高出100%)时，认股权证必须强制行使。认股权证可根据认股权证发行的股份，以“净股份”方式结算，以满足行使价。

 

转让限制

 

除某些例外情况外，投资者不得在投资完成后90天内转让根据投资协议获得的任何证券(“投资结束而这90天的期限，禁售期“)。 在禁售期之后，直至投资结束180天，除某些例外情况外，华宝投资者不得转让根据华宝投资协议收购的证券的25%。 华宝投资者在该180天期限届满后须受某些额外转让限制。

 

赔偿

 

根据投资协议，加州银行及各投资者同意赔偿对方及其联属公司因(A)适用投资协议所载有关一方的任何陈述或保证的任何错误或违反，或(B)有关一方违反适用投资协议中的任何协议或契诺而直接造成的一切损失(受 若干例外情况的规限)，但均受若干限制所规限。

 

额外的华宝投资者权利和契约

 

根据华宝投资协议，在投资完成后，华宝投资者将有权提名一名代表被任命为加州银行董事会成员，但须符合某些资格要求，只要华宝投资者及其关联公司实益拥有(A)加州银行已发行普通股(按转换后的基础)的5%和(B)加州银行普通股(按转换后的基础)的50%中的较小者，华宝投资者将在紧接投资完成后(此时，“董事 权利期限”).

 

在董事配权期内，华平投资者及其附属公司将对加州银行负有停滞义务。

 

投资协议的某些其他条款和条件

 

《投资协议》包含各方的惯常陈述、担保和协议。投资完成的条件除其他外包括：(A) 合并基本上同时完成，(B)根据投资协议向加州银行提供(总计)4亿美元的资金，(C)加州银行与马里兰州评估和税务局有关银行非投票权CE股票的补充文件。补充条款)，(D)适用的投资者收到旧金山联邦储备银行理事会或联邦储备银行理事会的口头确认，表明其投资不会导致该投资者被视为就BHC法案或CIBC法案(各自在投资协议中定义)而言“控制”加州银行，以及(E)其他成交条件。

 

补充条款

 

关于投资结束，加州银行将向马里兰州评估和税务局提交补充条款，从加州银行授权但未发行的优先股中创建银行非投票权CE股票。受华宝投资协议中任何适用的转让限制的限制，当转让给(A)加州银行，(B)在广泛的公开分发中时，每股银行非投票权CE股票将自动转换为加州银行普通股的一股，受某些调整的限制，(C)在转让中，没有任何受让人(或一组相联系受让人) 将收到加州银行任何类别有表决权证券的2%或以上的未偿还证券，或(D)向将控制加州银行每一类别有表决权证券的50%(50%)以上的购买者转让，而不 该银行无表决权CE股票的持有人进行任何转让。

 

当加州银行董事会宣布时，每一股BANC非投票权CE股票将有权获得与加州银行普通股持有者相同的时间和相同的条件下，在加州银行普通股股票方面所作的所有现金股息或分配，但须经某些调整。

 

除某些惯例例外情况外，银行非投票权CE股票将没有任何投票权，并将排在平价通行证与加州银行普通股。加州银行将不会对BANC非投票权CE股票拥有赎回权。

 

认股权证

 

根据投资协议，加州银行已同意向(A)华宝投资者发行认股权证，以购买约1,590万股无投票权CE股票和(B)中央桥投资者购买约300万股加州银行普通股，每股行使价为每股15.375美元，受权证规定的惯例反稀释调整的限制。*在投资结束七周年之前，认股权证(I)可由持有人行使，或(Ii)如果加州银行普通股市场价格在任何连续30个交易日内连续二十个交易日或以上达到或超过24.60美元，则自动行使认股权证。

 

注册权协议

 

投资协议设想，在投资结束时，加州银行将与每一位投资者签订注册权协议(“注册权协议“)，据此，加州银行将就根据投资协议购买的加州银行普通股，以及根据投资协议购买或在行使认股权证时发行的非投票权CE股票转换后发行的加州银行普通股，向投资者及其关联公司和某些允许的受让人提供习惯登记权。根据登记权协议，于禁售期后，投资者将有权享有S-3号货架登记权(或S-1号要求登记权(如适用))、要求一定数量承销货架下架的权利，以及搭载登记权，每种情况均受登记权协议所载若干限制的规限。

 

陈列品

 

以上对合并协议、表决协议、华平投资协议和Centerbridge投资协议(统称为交易协议“)，由此预期的交易未完成，并受此类协议全文的制约和限制，这些协议的副本分别作为附件2.1、附件10.1、附件10.2和附件10.3附在本报告的8-K表格中，并通过引用并入本报告。包括这些交易协议是为了向 投资者提供有关其各自条款的信息。这些交易协议不打算提供有关加州银行或其附属公司的任何其他事实信息。交易协议及其他相关文件所载的陈述、保证、契诺及协议 仅为该等协议的目的而作出，仅为该等协议的当事人的利益而订立，可能会受到缔约各方同意的 限制，包括受为在该等交易协议的各方之间分担合约风险而作出的保密披露的限制，而不是将该等事项确立为 事实，并可能受适用于缔约各方的重大标准与适用于投资者的标准不同所规限。投资者不是交易协议下的第三方受益人，不应依赖 陈述、担保、契诺和协议或其中的任何描述，将其作为各方或其任何子公司或关联公司的事实或条件的实际状态的表征。此外，有关陈述和担保标的的信息 可能会在适用的交易协议日期后发生变化，随后的信息可能会也可能不会完全反映在加州银行的公开披露中。交易 协议不应单独阅读，而应与加州银行、PacWest、投资者及其各自的附属公司或其各自的业务有关的其他信息、交易协议摘要和由此预期的交易一起阅读，这些信息将包含在或通过引用并入其中，S-4表格的注册声明，其中将包括加州银行和太平洋西部银行的联合委托书和加州银行的招股说明书，以及加州银行和太平洋西部银行各自向美国证券交易委员会提交的10-K表格、10-Q表格和其他文件。

 

第3.02项。股权证券的未登记销售。

本报告表格8-K的第1.01项所载信息通过引用并入本报告的第3.02项。根据加州银行普通股、BANC非投票权CE股票的投资协议发行股票时，根据认股权证的行使而发行的权证和股票将根据修订后的1933年《证券法》(以下简称《证券法》)获得豁免登记。证券法本文档涉及加州银行和太平洋银行之间的拟议交易以及投资者对加州银行的拟议投资。加州银行打算以S-4表格向美国证券交易委员会提交一份注册声明，其中将包括一份初步联合委托书/招股说明书，该声明/招股说明书将分发给加州银行普通股和太平洋西部银行普通股的持有者，这与加州银行和太平洋银行征求委托书供加州银行股东和太平洋西部银行股东就拟议的交易进行投票有关。登记声明提交并宣布生效后，加州银行和太平洋西部银行将向各自的股东发送最终的联合委托书/招股说明书，截至适用的记录日期，该声明/招股说明书有权就加州银行股东会议和太平洋西部银行股东会议正在审议的事项进行表决。加州银行或太平洋银行也可能向美国证券交易委员会提交有关拟议交易的其他文件。

在做出任何投票或投资决定之前，投资者和证券持有人应仔细阅读完整的注册说明书和联合 委托书/招股说明书(包括其所有修订和补充)，以及提交给美国证券交易委员会的任何其他相关文件，及其最终版本(当它们可用时)，以及对该等文件的任何修订或补充，仔细和完整，因为它们将包含有关拟议交易的重要信息。

 

投资者和证券持有人将能够通过美国证券交易委员会维护的网站免费获取注册声明、联合委托书/招股说明书以及由加州银行或太平洋西部银行向美国证券交易委员会提交或将提交的所有其他 相关文件的副本。

 

Ido Dotan

常务副秘书长总裁总法律顾问兼公司秘书

 

This document contains certain forward-looking statements within the meaning of the federal securities laws with respect to the proposed transaction between Banc of California and PacWest and the proposed investment by the Investors in equity securities of Banc of California pursuant to the Investment Agreements. Forward-looking statements may be identified by the use of the words such as “ estimate,” “plan,” “project,” “forecast,” “intend,” “expect,” “anticipate,” “believe,” “seek,” “strategy,” “future,” “opportunity,” “may,” “could,” “target,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” or similar expressions that predict or indicate future events or trends or that are not statements of historical matters, although not all forward-looking statements contain such identifying words. These forward-looking statements include, but are not limited to, statements regarding the proposed transaction between Banc of California and PacWest and the proposed investment by the Investors, including statements as to the expected timing, completion and effects of the proposed transaction. These statements are based on various assumptions, whether or not identified in this document, and on the current expectations of Banc of California’s and PacWest’s management and are not predictions of actual performance, and, as a result, are subject to risks and uncertainties. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict, may differ from assumptions and many are beyond the control of Banc of California and PacWest. These forward-looking statements are subject to a number of risks and uncertainties, including, but not limited to: (i) the risk that the proposed transaction may not be completed in a timely manner or at all; (ii) the failure to satisfy the conditions to the consummation of the proposed transaction, including obtaining the requisite approval of the Banc of California stockholders and PacWest stockholders within the time period provided in the Merger Agreement (iii) the occurrence of any event, change or other circumstance that could give rise to the termination of the Merger Agreement or the Investment Agreements; (iv) the inability to obtain alternative capital in the event it becomes necessary to complete the proposed transaction; (v) the effect of the announcement or pendency of the proposed transaction on Banc of California’s and PacWest’s business relationships, operating results and business generally; (vi) risks that the proposed transaction disrupts current plans and operations of Banc of California and PacWest; (vii) potential difficulties in retaining Banc of California and PacWest customers and employees as a result of the proposed transaction; (viii) Banc of California’s and PacWest’s estimates of its financial performance; (ix) changes in general economic conditions; (x) changes in the interest rate environment, including the recent increases in the Board of Governors of the Federal Reserve System benchmark rate and duration at which such increased interest rate levels are maintained, which could adversely affect Banc of California’s and PacWest’s revenue and expenses, the value of assets and obligations, and the availability and cost of capital and liquidity; (xi) the impacts of continuing inflation; (xii) the credit risks of lending activities, which may be affected by deterioration in real estate markets and the financial condition of borrowers, and the operational risk of lending activities, including the effectiveness of Banc of California’s and PacWest’s underwriting practices and the risk of fraud; (xiii) fluctuations in the demand for loans; (xiv) the ability to develop and maintain a strong core deposit base or other low cost funding sources necessary to fund Banc of California’s and PacWest’s activities particularly in a rising or high interest rate environment; (xv) the rapid withdrawal of a significant amount of deposits over a short period of time; (xvi) results of examinations by regulatory authorities of Banc of California or PacWest and the possibility that any such regulatory authority may, among other things, limit Banc of California’s or PacWest’s business activities, restrict Banc of California’s or PacWest’s ability to invest in certain assets, refrain from issuing an approval or non-objection to certain capital or other actions, increase Banc of California’s or PacWest’s allowance for credit losses, result in write-downs of asset values, restrict Banc of California’s or PacWest’s ability or that of Banc of California’s or PacWest’s bank subsidiary to pay dividends, or impose fines, penalties or sanctions; (xvii) the impact of bank failures or other adverse developments at other banks on general investor sentiment regarding the stability and liquidity of banks; (xviii) changes in the markets in which Banc of California and PacWest compete, including with respect to the competitive landscape, technology evolution or regulatory changes; (xix) changes in consumer spending, borrowing and saving habits; (xx) slowdowns in securities trading or shifting demand for security trading products; (xxi) the impact of natural disasters or health epidemics; (xxii) legislative or regulatory changes; (xxiii) impact of operating in a highly competitive industry; (xxiv) reliance on third party service providers; (xxv) competition in retaining key employees; (xxvi) risks related to data security and privacy, including the impact of any data security breaches, cyberattacks, employee or other internal misconduct, malware, phishing or ransomware, physical security breaches, natural disasters, or similar disruptions; (xxvii) changes to accounting principles and guidelines; (xxviii) potential litigation relating to the proposed transaction that could be instituted against Banc of California, PacWest or their respective directors and officers, including the effects of any outcomes related thereto; (xxix) volatility in the trading price of Banc of California’s or PacWest’s securities; (xxx) the ability to implement business plans, forecasts, and other expectations after the completion of the proposed transaction, and identify and realize additional opportunities; and (xxxi) unexpected costs, charges or expenses resulting from the proposed transaction. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of Banc of California’s registration statement on Form S-4 that will contain a joint proxy statement/prospectus discussed below, when it becomes available, and other documents filed by Banc of California or PacWest from time to time with the U.S. Securities and Exchange Commission (the “SEC”). These filings do and will identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. If any of these risks materialize or our assumptions prove incorrect, actual events and results could differ materially from those contained in the forward-looking statements. There may be additional risks that neither Banc of California nor PacWest presently knows or that Banc of California or PacWest currently believes are immaterial that could also cause actual events and results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Banc of California’s and PacWest’s expectations, plans or forecasts of future events and views as of the date of this document. Banc of California and PacWest anticipate that subsequent events and developments will cause Banc of California’s and PacWest’s assessments to change. While Banc of California and PacWest may elect to update these forward-looking statements at some point in the future, Banc of California and PacWest specifically disclaim any obligation to do so, unless required by applicable law. These forward-looking statements should not be relied upon as representing Banc of California’s and PacWest’s assessments as of any date subsequent to the date of this document. Accordingly, undue reliance should not be placed upon the forward-looking statements.

 

Forward-looking statements speak only as of the date they are made. Neither Banc of California nor PacWest gives any assurance that either Banc of California or PacWest, or the combined company, will achieve the results or other matters set forth in the forward-looking statements.

 

No Offer or Solicitation

 

This document is not a proxy statement or solicitation or a proxy, consent or authorization with respect to any securities or in respect of the proposed transaction and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of Banc of California, PacWest or the combined company, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be deemed to be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act, and otherwise in accordance with applicable law.

 

Additional Information and Where to Find It

 

This document relates to the proposed transaction between Banc of California and PacWest and the proposed investment in Banc of California by the Investors. Banc of California intends to file a registration statement on Form S-4 with the SEC, which will include a preliminary joint proxy statement/prospectus to be distributed to holders of Banc of California’s common stock and PacWest’s common stock in connection with Banc of California’s and PacWest’s solicitation of proxies for the vote by Banc of California’s stockholders and PacWest’s stockholders with respect to the proposed transaction. After the registration statement has been filed and declared effective, Banc of California and PacWest will mail a definitive joint proxy statement/prospectus to their respective stockholders that, as of the applicable record date, are entitled to vote on the matters being considered at the Banc of California stockholder meeting and at the PacWest stockholder meeting, as applicable. Banc of California or PacWest may also file other documents with the SEC regarding the proposed transaction.

 

BEFORE MAKING ANY VOTING OR INVESTMENT DECISION, INVESTORS AND SECURITY HOLDERS ARE URGED TO CAREFULLY READ THE ENTIRE REGISTRATION STATEMENT AND JOINT PROXY STATEMENT/PROSPECTUS (INCLUDING ALL AMENDMENTS AND SUPPLEMENTS THERETO) WHEN THEY BECOME AVAILABLE, AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC, AND THE DEFINITIVE VERSIONS THEREOF (WHEN THEY BECOME AVAILABLE), AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO SUCH DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION.

 

Investors and security holders will be able to obtain free copies of the registration statement, the joint proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC by Banc of California or PacWest through the website maintained by the SEC at www.sec.gov.

 

The documents filed by Banc of California or PacWest with the SEC also may be obtained free of charge at Banc of California’s or PacWest’s website at https://investors.bancofcal.com, under the heading “Financials and Filings” or www.pacwestbancorp.com, under the heading “SEC Filings”, respectively, or upon written request to Banc of California, Attention: Investor Relations, 3 MacArthur Place, Santa Ana, CA 92707 or PacWest, Attention: Investor Relations, 9701 Wilshire Boulevard, Suite 700, Beverly Hills, CA 90212, respectively.

 

Participants in Solicitation

 

Banc of California and PacWest and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from Banc of California’s stockholders or PacWest’s stockholders in connection with the proposed transaction under the rules of the SEC. Banc of California’s stockholders, PacWest’s stockholders and other interested persons will be able to obtain, without charge, more detailed information regarding the names, affiliations and interests of directors and executive officers of Banc of California and PacWest in Banc of California’s registration statement on Form S-4 that will be filed, as well other documents filed by Banc of California or PacWest from time to time with the SEC. Other information regarding persons who may, under the rules of the SEC, be deemed the participants in the proxy solicitation of Banc of California’s or PacWest’s stockholders in connection with the proposed transaction and a description of their direct and indirect interests, by security holdings or otherwise, will be included in the preliminary joint proxy statement/prospectus and will be contained in other relevant materials to be filed with the SEC regarding the proposed transaction (if and when they become available). You may obtain free copies of these documents at the SEC’s website at www.sec.gov. Copies of documents filed with the SEC by Banc of California or PacWest will also be available free of charge from Banc of California or PacWest using the contact information above.

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

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