secwatch.observer — SEC 8-K summary
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Issuer:     Atlantic Union Bankshares Corp (AUB)
CIK:        0000883948
Form:       8-K
Filed at:   2025-04-01T23:59:59+00:00
Accession:  0001104659-25-030587
Event type: m_and_a
Sentiment:  positive
Materiality: 0.90
Item codes: 2.01, 2.03, 5.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Atlantic Union completes $1.3B acquisition of Sandy Spring Bancorp
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- Each SASR share converted to 0.900 AUB shares; total value ~$1.3B based on AUB close $31.14 on 3/31/25.
- Pro forma total assets $38.7B, loans $30.0B, deposits $32.1B as of 12/31/24 (pre-merger adjustments).
- Three former Sandy Spring directors appointed to AUB board: Mona Abutaleb Stephenson, Mark C. Micklem, Daniel J. Schrider; Schrider also signed consulting agreement ($100k/yr for 2 years).
- Assumed $175M 4.25% sub notes due 2029 and $200M 3.875% sub notes due 2032 from Sandy Spring.
- Physically settled forward sale agreements, receiving ~$385M net proceeds to fund portion of merger.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/883948/000110465925030587/0001104659-25-030587-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/883948/000110465925030587/tm2510687d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-25-030587

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer