UNITED STATES
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): May 30, 2017
Hilltop Holdings Inc.
(Exact name of registrant as specified in its charter)
Maryland |
| 1-31987 |
| 84-1477939 |
(State or other jurisdiction of |
| (Commission |
| (IRS Employer Identification |
200 Crescent Court, Suite 1330 |
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Dallas, Texas |
| 75201 |
(Address of principal executive offices) |
| (Zip Code) |
Registrant’s telephone number, including area code: (214) 855-2177
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.
Emerging growth company o
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Section 8 — Other Events
Item 8.01 Other Events.
On May 30, 2017, the Court of Chancery of the State of Delaware issued its Memorandum Opinion in the matter styled In Re Appraisal of SWS Group, Inc. The Court found the “fair value” of the shares of SWS Group Inc. as of the date of the merger of SWS Group, Inc. with a subsidiary of Hilltop Holdings Inc. was $6.38 per share. Accordingly, Hilltop Holdings Inc. will pay in cash $6.38 per share, plus statutory interest from the effective date of the merger until the date of payment, to the Petitioners and the other stockholders of SWS Group, Inc. who properly demanded appraisal rights under Delaware law, collectively representing 7,438,453 shares. At the effective time of the merger, each outstanding share of SWS Group, Inc. common stock, other than shares held by Hilltop Holdings Inc., in treasury by SWS Group, Inc. or by stockholders who properly demanded appraisal rights under Delaware law, was converted into the right to receive 0.2496 shares of Hilltop Holdings Inc. common stock and $1.94 in cash, the aggregate value of which was $6.92 per share of SWS Group, Inc. common stock.
SIGNATURES
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 hereunto duly authorized.
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| Hilltop Holdings Inc., | |
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| a Maryland corporation | |
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Date: June 1, 2017 | By: | /s/ COREY PRESTIDGE | |
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| Name: | Corey G. Prestidge |
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| Title: | Executive Vice President, |
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| General Counsel & Secretary |