HOPE Buyback

Hope Bancorp, Inc. Buyback

OLI recorded this information on 5/7/2018

Company:

Hope Bancorp, Inc.

Buyback:

HOPE buyback

$Amount Authorized:

$100,000,000

Buyback Details:

Hope Bancorp, Inc. (NASDAQ:HOPE) (the "Company") today announced its intention to offer, subject to market conditions and other factors, $200 million aggregate principal amount of its convertible senior notes due 2038 (the "Notes"). The Notes will be offered and sold in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Act"). The Company also intends to grant the initial purchaser of the Notes a 30-day option to purchase up to an additional $30 million in aggregate principal amount of the Notes on the same terms and conditions. BofA Merrill Lynch is acting as sole initial purchaser of the Notes. In connection with the offering of the Notes, Hope Bancorp's board of directors approved a share repurchase program that authorized the Company to use up to $100 million of the proceeds from the Notes offering to repurchase up to $100 million of its common stock. The Company intends to use up to $100 million to repurchase shares of its stock from purchasers of the Notes in privately negotiated transactions effected through the initial purchaser of its affiliates conducted concurrently with the pricing of the Notes. The Company expects the purchase price per share of its common stock in repurchases conducted concurrently with the pricing of the Notes to equal the closing sale price per share of its common stock on the Nasdaq Global Select Market on the date of the pricing of the Notes. Any such share repurchases may increase, or prevent a decrease in, the market price of Hope Bancorp's common stock or the Notes, which could result in a higher effective conversion price for the convertible Notes. Any remaining capacity for repurchases is expected to be used in open market repurchases following the pricing of the Notes as market conditions warrant.

Hope Bancorp is a bank holding company. Through its subsidiary, Bank of Hope, Co. provides commercial and retail banking loan and deposit products. Co. accepts deposits and originates a variety of loans, including commercial business loans, real estate loans, trade finance loans, Small Business Administration loans, single-family mortgages, warehouse lines of credit, personal loans, and credit cards. Co. provides cash management services to its business customers, which include remote deposit capture, lock box, and ACH origination services. Co. also provides a mobile banking application for smart devices that extends access to banking services, such as mobile deposits and bill payment.

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HOPE — Key Stats (updated 1 hour, 33 minutes ago)

Company Name:	Hope Bancorp Inc
Stock buyback:	HOPE buyback
Website:	www.bankofhope.com
Sector:	Banking & Savings
Number of ETFs Holding HOPE:	52
Total Market Value Held by ETFs:	$309.87M
Total Market Capitalization:	$1.27B
% of Market Cap. Held by ETFs:	24.40%

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Hope Bancorp, Inc. Buyback

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