We advised Atlantic Union Bankshares on the offering 

Davis Polk advised Atlantic Union Bankshares Corporation on a registered forward offering of 11,338,028 shares of its common stock at a price to the public of $35.50 per share for approximate gross proceeds of $402.5 million, before underwriting discounts and commissions and offering expenses, pursuant to forward sale agreements. The offering was made in connection with Atlantic Union Bankshares Corporation’s previously announced acquisition of Sandy Spring Bancorp, Inc. in an all-stock transaction valued at approximately $1.6 billion.

Headquartered in Richmond, Virginia, Atlantic Union Bankshares Corporation is the holding company for Atlantic Union Bank. Atlantic Union Bank had 129 branches and approximately 150 ATMs located throughout Virginia and in portions of Maryland and North Carolina as of September 30, 2024.

The Davis Polk capital markets team included partner Pedro J. Bermeo and associates Kanger Jin and Andrew Masaru Orita. The equity derivatives team included partner Mark J. DiFiore and associates Alexander S. Pettingell and Melissa X. Estrada. Partners David H. Schnabel and Corey M. Goodman and associate Dmitry Dobrovolskiy provided tax advice. All members of the Davis Polk team are based in the New York office.

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