secwatch.observer — SEC 8-K summary
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Issuer:     SMARTFINANCIAL INC. (SMBK)
CIK:        0001038773
Form:       8-K
Filed at:   2025-08-20T23:59:59+00:00
Accession:  0001558370-25-011698
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SmartFinancial issues $100M of 7.25% subordinated notes due 2035; to redeem up to $40M of 2028 notes
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- Sold $100M aggregate principal of 7.25% Fixed-to-Floating Rate Subordinated Notes due 2035 at 100% of face value.
- Interest fixed at 7.25% until Sep 1, 2030, then resets quarterly at 3-month SOFR plus 385 basis points.
- Net proceeds for general corporate purposes, including redemption of up to $40M of outstanding 5.625% Notes due 2028.
- Notes are unsecured, subordinated, qualify as Tier 2 capital; mature Sep 1, 2035; redeemable at par on/after Sep 1, 2030.
- Issued via private placement under Section 4(a)(2) and Rule 506(b); registration rights agreement to allow exchange.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1038773/000155837025011698/0001558370-25-011698-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1038773/000155837025011698/smbk-20250820x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-25-011698

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