Independence Bancshares Launches Follow-On Offering

Independence BancsharesLaunches Follow-On Offering

GREENVILLE, S.C.--(BUSINESS WIRE)-- Independence Bancshares, Inc. (OTC: IEBS) intends to sell up to 2.35 million new shares of common stock in a follow-on offering to its shareholders of record as of December 30, 2012. It is conducting the offering in connection with its completion in December 2012 of a private placement pursuant to which it raised approximately $14 million. Independence Bancshares is launching the follow-on offering to provide its shareholders of record immediately prior to the close of the private placement with the opportunity to invest in Independence Bancshares at the same offering price per share that it offered to the investors in the private placement. The Securities and Exchange Commission declared the registration statement for Independence Bancshares' offering effective on June 28, 2013.

Independence Bancshares will distribute to shareholders of record as of December 30, 2012 a copy of the prospectus which describes the terms of the offering in detail. Under the terms of the offering, the common stock shareholders will be given the opportunity to purchase up to 2,351,250 shares of common stock. This is not a rights offering, and the Company reserves the right to not offer to, or to accept or reject subscriptions from, any of its shareholders in whole or in part for any reason. In the event that shareholders oversubscribe for the offering, Independence Bancshares will allocate shares on a pro rata basis in accordance with the shareholders' ownership in Independence Bancshares, but has reserved the right to allocate shares of common stock according to other methods, including on a "first come, first served" basis. There is no minimum number of shares that must be sold or minimum subscription amount required for consummation of the offering. The offering, which Independence Bancshares may cancel at any time, is scheduled to expire at 5:00 p.m. EST on August 1, 2013, unless extended for an additional 30 days by the board of directors.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. This press release shall not constitute a prospectus. The offering will be made only by means of a prospectus.

Requests for copies of the prospectus by shareholders of record as of December 30, 2012 may be made by writing to: Independence Bancshares, Inc., Attn: Martha L. Long, 500 East Washington Street, Greenville, South Carolina 29601.

About Independence Bancshares and Independence National Bank

Independence Bancshares, Inc. is a bank holding company headquartered in Greenville, South Carolina. It owns and controls all of the capital stock of its sole subsidiary, Independence National Bank, a nationally chartered bank. Independence National Bank is proud to be a bank located in Greenville, South Carolina. Since opening for business in May, 2005, we have been providing a complete banking line of business including consumer finance, business banking and merchant services. Our goal is to continue to deliver services that provide exceptional value to the community we serve.

Media:
RLM Finsbury
David Millar, 646-805-2009
Dave.Millar@RLMFinsbury.com

KEYWORDS: United States North America South Carolina

INDUSTRY KEYWORDS:

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