8-K 1 v189544_8k.htm Unassociated Document
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): June 30, 2010

CASCADE BANCORP
(Exact name of Registrant as specified in its charter)

Oregon
  
0-23322
  
93-1034484
(State or other jurisdiction of
  
(Commission File Number)
  
(I.R.S. Employer Identification No.)
incorporation or organization)
  
  
  
  

1100 NW Wall Street
Bend, Oregon 97701
(Address of principal executive offices)
(Zip Code)

(541) 385-6205
(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K file is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 
 
 
 
ITEM 1.01
ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.
 
On June 30, 2010,  Cascade Bancorp (NASDAQ: CACB) (the “Company”), announced that on June 30, 2010, it entered into an agreement with each of David F. Bolger ("Mr. Bolger") and an affiliate of Lightyear Fund II, L.P. ("Lightyear") amending the Securities Purchase Agreements between the Company and Mr. Bolger and the Company and Lightyear dated October 29, 2009, as amended February 16, 2010 and further amended  June 1, 2010 (the "Securities Purchase Agreements") to extend their conditional commitments to July 15, 2010.
 
Per the new agreement, the extended date by which conditions of closing must be satisfied is now July 15, 2010. The sales to Mr. Bolger and to Lightyear are conditioned upon the Company's simultaneous sale of shares of its common stock in additional private placements to other investors under separate written agreements such that the total net proceeds from the offerings is at least $150 million, in addition to the other closing conditions set forth in each of the Securities Purchase Agreements.
 
A copy of the press release relating to the amendments is attached hereto as Exhibit 99.1.
 
FINANCIAL STATEMENTS AND EXHIBITS
 
 
(a)
Financial Statements of Business Acquired
 
 
Not applicable.
 
 
(b)
Pro Forma Financial Information
 
 
Not applicable.
 
 
(c)
Shell Company Transactions
 
 
Not applicable.
 
 
(d)
Exhibits
 
Exhibit 99.1 Press Release dated June 30, 2010.
 
 
 
 
 
SIGNATURE
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereto duly authorized.
 
   
CASCADE BANCORP
  
       
 
By:
/s/ Patricia L. Moss
  
   
Patricia L. Moss
  
   
President & CEO
  

Date:
June 30, 2010