Simmons First Announces Pricing Of Common Stock Offering
November 17, 2009 (FinancialWire) — Simmons First National Corp. (NASDAQ: SFNC) announced the pricing of an underwritten public offering of 2,650,000 shares of its common stock at a price to the public of $24.50 per share for gross proceeds of approximately $64.925 million.
The net proceeds to the company after deducting underwriting discounts and commissions and estimated offering expenses are expected to be approximately $61.4 million. The company has granted the underwriters a 30-day option to purchase up to an additional 397,500 shares of the company’s common stock to cover over-allotments, if any. Stephens Inc. is serving as lead bookrunner and Stifel, Nicolaus & company, Inc. is serving as joint bookrunner for the offering.
Raymond James & Associates, Inc. is serving as co-manager. The company expects to close the transaction, subject to customary conditions, on or about November 17, 2009.
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