SEC Filing Summary: Southern National Bancorp of Virginia, Inc.
Business Context and Reporting Period
This Form 8-K Current Report was filed on October 30, 2009, by Southern National Bancorp of Virginia, Inc. The filing serves as a Regulation FD disclosure regarding the pricing of a public offering of common stock.
Key Financial Metrics
The filing does not provide standard financial performance metrics such as revenue, profit, cash flow, margins, debt, or liquidity ratios. The primary financial data disclosed relates to a capital raise:
- Shares Offered: 4,166,666 shares of common stock
- Offering Price: $6.00 per share
- Total Proceeds: Approximately $25,000,000 (calculated from share count and price)
Material Changes
The material change reported is the execution of a public equity offering. This transaction increases the company's share count and capital base. No comparative financial data or changes in operating metrics versus prior periods are included in this specific filing.
Guidance, Outlook, and Risks
The filing incorporates a press release by reference but does not contain explicit management commentary, forward-looking guidance, or a detailed discussion of risks within the text of the 8-K itself. The document notes that the information is "furnished" and not "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, limiting its incorporation into future registration statements unless expressly stated.
Investor Verification Checklist
- Verify the final closing date and actual net proceeds after underwriting discounts and expenses.
- Review the attached Press Release (Exhibit 99.1) for the stated use of proceeds.
- Confirm the impact of the new share issuance on existing shareholder dilution.
- Check subsequent filings for the official registration statement details regarding the offering.