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SEC filingBanco Santander announced it is not required to publish a prospectus for issuing up to 334,809,216 new ordinary shares related to its acquisition of Webster Financial Corporation, relying on Prospectus Regulation exemptions.
Banco Santander's disclosure confirms regulatory compliance for a significant share issuance tied to its acquisition of Webster Financial Corporation. By electing exemptions under Articles 1(4)(da) and 1(5)(a) of the Prospectus Regulation, the bank avoids the time and cost of preparing a full prospectus, streamlining the capital raise process. The Exemption Document, published on the corporate website and filed with Spain's CNMV, provides necessary disclosures per Annex IX without requiring regulatory approval. This supports efficient execution of the acquisition, potentially accelerating integration and minimizing dilution impact disclosure delays for investors.