News Column

Four Oaks Fincorp, Inc. Sets Record Date for Rights Offering

June 16, 2014



FOUR OAKS, N.C.--(BUSINESS WIRE)-- Four Oaks Fincorp, Inc. (OTCBB:FOFN) (the “Company”), the holding company for Four Oaks Bank & Trust Company, today announced that it has set 5:00 p.m., Eastern Time, on Monday, June 16, 2014, as the record date (the “Record Date”) for the Company’s previously disclosed rights offering of up to approximately $26.6 million (the “Rights Offering”). The Company expects to commence the Rights Offering on or about Wednesday, June 18, 2014.

In the Rights Offering, the Company will distribute, at no charge, non-transferable subscription rights to its shareholders as of the Record Date. For each share of common stock, $1.00 par value per share (the “Common Stock”), held as of the Record Date, a shareholder will receive a non-transferable right to purchase three shares of Common Stock at a subscription price of $1.00 per share (the “Basic Subscription Privilege”). Shareholders who exercise their Basic Subscription Privilege in full will have the opportunity to subscribe for additional shares in the event that not all available shares are purchased pursuant to the Basic Subscription Privilege or by Kenneth R. Lehman pursuant to the Securities Purchase Agreement, dated March 24, 2014, subject to certain limitations.

You may obtain a written prospectus for the Rights Offering meeting the requirements of Section 10 of the Securities Act of 1933, as amended (the “Securities Act”), by writing to the Company, P.O. Box 309, Four Oaks, North Carolina 27524, Attention: Corporate Secretary. You may also obtain a copy of the Company’s filings with the Securities and Exchange Commission (the “SEC”) at www.sec.gov.

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act of 1934, as amended.These forward-looking statements are based on the Company’s current beliefs and assumptions and are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. Such statements are subject to risks and uncertainties that are often difficult to predict, are beyond the Company’s control, and which may cause results to differ materially from expectations.For a discussion of the most significant risks and uncertainties associated with the Company’s business, please review the Company’s filings with the SEC, including its Annual Report on Form 10-K for the year ended December 31, 2013 and subsequent reports.You are cautioned not to place undue reliance on these forward-looking statements, which are based on the Company’s expectations as of the date of this press release and speak only as of the date of this press release.The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.




Four Oaks Fincorp, Inc.

Ayden R. Lee, Jr., Chairman, President, and Chief Executive Officer

Nancy S. Wise, Executive Vice President and Chief Financial Officer

919-963-2177


Source: Four Oaks Fincorp, Inc.


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