Texas Capital Bancshares (TCBI) Prices 3M Share Offering for Proceeds of ~$210M

November 29, 2016 6:06 AM EST

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Texas Capital Bancshares, Inc. (Nasdaq: TCBI) announced that it has priced an underwritten public offering of 3.0 million shares of common stock to the public. The Company expects to close the sale of the shares of common stock on December 2, 2016, subject to customary closing conditions. The underwriters will have a 30-day option to purchase up to an additional 450,000 shares of common stock from the Company.

The Company expects gross aggregate proceeds of this offering, before expenses, of approximately $210.0 million, or $241.5 million if the underwriters exercise their option to purchase additional shares in full. Proceeds will be used to provide capital support for the growth of Texas Capital Bank, and for general corporate purposes.

The underwriters may offer the shares of common stock from time to time for sale in one or more transactions on the Nasdaq Global Select Market, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices. On November 28, 2016, the last reported sale price of the Company’s common stock was $73.15 per share.

BofA Merrill Lynch, J.P. Morgan and Morgan Stanley are serving as Joint Bookrunning Managers for this offering.

The Company has filed a registration statement (including a base prospectus) with the SEC for the common stock offering. Copies of the prospectus supplement and the accompanying base prospectus for the offering, when available, may be obtained from BofA Merrill Lynch, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, NC 28255-0001, Attention: Prospectus Department, or e-mail: dg.prospectus_requests@baml.com, J.P. Morgan, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Attention: Prospectus Department, or by calling 1.866.803.9204, or Morgan Stanley, Attention: Prospectus Department, 180 Varick Street, Second Floor, New York, NY 10014.



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