Atlantic Union Bankshares Corp 8-K

What Happened

• Atlantic Union Bankshares Corporation (AUB) announced on July 27, 2026 that it entered into an underwriting agreement with Keefe, Bruyette & Woods, Inc. and Piper Sandler & Co. to offer $250.0 million aggregate principal of 6.25% Fixed-to-Floating Rate Subordinated Notes due 2036. The notes are being offered at 100.00% of par and the offering is expected to close on or about July 30, 2026, subject to customary closing conditions. The company filed the underwriting agreement as Exhibit 1.1 to its Form 8-K.

Key Details

• Offering size: $250.0 million of 6.25% Fixed-to-Floating Rate Subordinated Notes due 2036.
• Public offering price: 100.00% of principal.
• Expected close date: on or about July 30, 2026 (subject to closing conditions).
• Use of proceeds: repay $168.0 million aggregate principal of outstanding 4.25% Fixed-to-Floating Subordinated Notes due 2029 (plus accrued interest) and for general corporate purposes, including providing capital to Atlantic Union Bank.
• Conditional action: a conditional notice of redemption was delivered for the 2029 notes; the redemption depends on completion of this offering and the amount of proceeds raised.
• Registration: the notes are offered under the company’s effective Form S-3ASR (File No. 333-281290) and related prospectus supplements.

Why It Matters

• This transaction is a debt refinancing and capital-management action: AUB is replacing $168M of older subordinated notes (4.25% due 2029) with new subordinated debt maturing in 2036, likely extending maturity and adjusting interest costs.
• For investors, the offering affects the company’s capital structure and interest obligations and could provide Atlantic Union Bank with additional regulatory capital to support growth.
• The redemption of the 2029 notes is contingent on the offering closing, so the refinancing is not final until the offering completes and customary conditions are met.