BEND, OREGON – Cascade Bancorp announced today that it has called a Special Meeting of Shareholders. The meeting date is December 7, 2009 at 8:00 A.M. Pacific Time.
The meeting will be held at 1100 NW Wall Street, Bend, Oregon. Proxy statements are being mailed to all shareholders on or about November 12, 2009.
The purpose of the proxy statement is to solicit shareholders’ votes with respect to proposals to:
- Increase the number of authorized shares of the Company’s common stock from 45,000,000 to 300,000,000;
- Approve the issuance of up to $65 million of the Company’s common stock to investors in private offerings;
- Approve an amendment to effect a one for ten reverse stock split of the Company’s common stock and payment of cash for fractional shares;
- and Transact any other business which may come before the special meeting.
Shareholders of records as of October 26, 2009 are entitled to vote at the special shareholders meeting.
