August 4, 2009 (FinancialWire) — Hampton Roads Bankshares, Inc. (NASDAQ: HMPR), the financial holding company for Bank of Hampton Roads and Shore Bank, announced that it has commenced an offering to sell up to 32,500,000 shares of common stock in an underwritten public offering.

Sandler O’Neill + Partners, L.P. is acting as the sole lead book-running manager and BB&T Capital Markets, a division of Scott and Stringfellow, LLC, Howe Barnes Hoefer & Arnett, Inc. and Janney Montgomery Scott LLC are acting as co-managers for the offering.

The shares will be issued pursuant to a prospectus supplement and prospectus filed as part of an existing shelf registration statement filed with the Securities and Exchange Commission on form S-3 (File No. 333-160337). The company intends to grant the underwriters an option to purchase up to an additional 4,875,000 shares sold to cover over-allotments, if any.

The company expects to use the net proceeds from this offering for general corporate purposes.

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