4,500,000 Shares of Voting Common Stock LIVE OAK BANCSHARES, INC. Voting Common Stock (no par value per share) Underwriting AgreementUnderwriting Agreement • August 14th, 2017 • Live Oak Bancshares, Inc. • State commercial banks • New York
Live Oak Bancshares, Inc., a North Carolina corporation (the “Company”), proposes, subject to the terms and conditions stated in this agreement (this “Agreement”), to issue and sell to the Underwriters named in Schedule I hereto (the “Underwriters”) an aggregate of 4,500,000 shares (the “Firm Shares”) and, at the election of the Underwriters, up to 675,000 additional shares (the “Optional Shares”) of voting common stock, no par value per share (the “Common Stock”), of the Company. The Firm Shares and the Optional Shares that the Underwriters elect to purchase pursuant to Section 3 hereof are hereinafter collectively referred to as the “Shares.”
