CapStar Financial (CSTR) Prices IPO at $15/Share, Middle of Expected Range

September 22, 2016 6:24 AM EDT
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CapStar Financial Holdings, Inc. (Nasdaq: CSTR) announced the pricing of the initial public offering of 2,585,000 of its common stock, including 1,300,299 shares to be sold by the Company and 1,284,701 shares to be sold by selling shareholders, at a public offering price of $15.00 per share, which is expected to result in aggregate gross proceeds of approximately $38.8 million. The net proceeds to the Company, after deducting the underwriting discount and estimated offering expenses, are expected to be approximately $16.6 million. The underwriters have the option to purchase up to an additional 387,750 shares of common stock from the Company within the next 30 days. The shares are expected to begin trading on Thursday, September 22, 2016, on the NASDAQ Global Select Market under the ticker symbol "CSTR."

*** The company was recently looking for a pricing range of $14.50 - $16.50 per share.

Keefe, Bruyette & Woods, Inc. and Sandler O'Neill & Partners, L.P. are acting as the joint book-running managers for the offering. Raymond James & Associates, Inc. and Stephens, Inc. are acting as co-managers for the offering.

A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission ("SEC") (File No. 333-213367). This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there by any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering is being made only by means of the written prospectus forming part of the effective registration statement. Copies of the final prospectus relating to the offering may be obtained, when available, from Keefe, Bruyette & Woods, Inc., A Stifel Company, 787 Seventh Avenue, Fourth Floor, New York, NY 10019, Attention: Equity Capital Markets, or by calling (800) 966-1559; or from Sandler O'Neill & Partners, L.P., 1251 Avenue of the Americas, 6th Floor, New York, NY 10020, Attention: Syndicate, or by calling (866) 805-4128, or by email at syndicate@sandleroneill.com.



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