4//SEC Filing
Bowen James C. 4
Accession 0001181431-09-011690
CIK 0001338977other
Filed
Feb 25, 7:00 PM ET
Accepted
Feb 26, 3:49 PM ET
Size
10.2 KB
Accession
0001181431-09-011690
Insider Transaction Report
Form 4
Bowen James C.
Director
Transactions
- Conversion
Common Stock
2009-02-24$2.00/sh+285,000$570,000→ 495,050 total - Conversion
Convertible Promissory Note
2009-02-24Exercise: $2.00→ Common Stock (285,000 underlying) - Purchase
Convertible Promissory Note
2009-02-24Exercise: $2.00Exp: 2012-01-01→ Common Stock (215,000 underlying)
Footnotes (2)
- [F1]On February 24, 2009, the reporting person converted $570,000 of the $1.5 million note issued to the reporting person in connection with the merger of Monticello Bancshares, Inc. into CapitalSouth Bancorp on September 14, 2007 (the "Merger"), at a conversion price of $2.00 per share, resulting in his acquisition of 285,000 shares of common stock pursuant to the terms of that certain Securities Purchase Agreement between CapitalSouth Bancorp and the reporting person, dated February 24, 2009, as such Securities Purchase Agreement modified that certain Restructuring Agreement between CapitalSouth Bancorp and the reporting person, dated as of September 30, 2008.
- [F2]On February 24, 2009, Mr. Bowen was issued a new convertible promissory note in the principal amount of $430,000 as a replacement for a portion of the $1.5 million note converted pursuant to Footnote (1) above (the "Replacement Note"). The Replacement Note shall be converted upon receipt of regulatory approval of Mr. Bowen owning in excess of 9.99% of CapitalSouth Bancorp's common stock. In the event such regulatory approval is not requested or received, the Replacement Note shall be paid in full at maturity on January 1, 2012.
Documents
Issuer
CapitalSouth Bancorp
CIK 0001338977
Entity typeother
Related Parties
1- filerCIK 0001412297
Filing Metadata
- Form type
- 4
- Filed
- Feb 25, 7:00 PM ET
- Accepted
- Feb 26, 3:49 PM ET
- Size
- 10.2 KB