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UVSP > SEC Filings for UVSP > Form 8-K on 7-Aug-2009All Recent SEC Filings

Show all filings for UNIVEST CORP OF PENNSYLVANIA | Request a Trial to NEW EDGAR Online Pro

Form 8-K for UNIVEST CORP OF PENNSYLVANIA


7-Aug-2009

Entry into a Material Definitive Agreement, Other Events, Financial


Item 1.01 Entry Into A Material Definitive Agreement

On August 6, 2009, Univest Corporation of Pennsylvania, a Pennsylvania corporation (the "Company"), entered into an Underwriting Agreement (the "Underwriting Agreement") with Keefe, Bruyette & Woods, Inc. (the "Underwriter"). Pursuant to the Underwriting Agreement, the Company will issue and sell to the Underwriter 2,950,000 shares of the Company's common stock, par value $5.00 per share (the "Common Stock"), at $16.45 per share. The public offering price of the Common Stock is $17.50 per share. The Company has also granted the Underwriter an option to purchase up to 442,500 additional shares to cover over-allotments, if any.

The Company intends to use the net proceeds from the offering for general corporate purposes, including supporting the capital needs of its subsidiary bank, the financing of its operations, the repayment of short-term indebtedness, potential business acquisitions and other capital expenditures.

The Underwriting Agreement contains customary representations, warranties, indemnification rights and obligations of the parties. The Company expects to close the sale of Common Stock on August 12, 2009, subject to customary closing conditions.

The shares of Common Stock will be issued pursuant to a prospectus supplement filed as part of an existing shelf registration statement filed with the Securities and Exchange Commission on Form S-3 (File No. 333-159084) (the "Registration Statement").

In connection with the issuance and sale of the Common Stock, the following exhibits are filed with this Current Report on Form 8-K and are incorporated by reference into the Registration Statement: (i) the Underwriting Agreement (Exhibit 1.1), (ii) the opinion of Shumaker Williams, P.C. as to the legality of the shares of Common Stock (Exhibit 5.1), (iii) the consent of Shumaker Williams, P.C. (Exhibit 23.1), and (iv) certain information relating to Part II, Item 14. "Other Expenses of Issuance and Distribution" of the Registration Statement (Exhibit 99.2).



Item 8.01 Other Events

On August 6, 2009, the Company issued a press release announcing the pricing of the Common Stock referenced in Item 1.01 above, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference.



Item 9.01 Financial Statements and Exhibits

(a) Not applicable.
(b) Not applicable.
(c) Not applicable.
(d) Exhibits.

Exhibit
No.                 Description


1.1                 Underwriting Agreement, dated August 6, 2009, between Univest
                    Corporation of Pennsylvania and Keefe, Bruyette & Woods, Inc.

5.1                 Opinion of Shumaker Williams, P.C. regarding the legality of the
                    securities offered.

23.1                Consent of Shumaker Williams, P.C. (included in Exhibit 5.1).

99.1                Press Release dated August 6, 2009.

99.2                Information relating to Part II, Item 14. "Other Expenses of Issuance
                    and Distribution" of the Registration Statement.


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