Home Bancshares (HOMB) Announces 2.65M Shares Secondary Offering

September 22, 2016 4:01 PM EDT

Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.

Home BancShares, Inc. (Nasdaq: HOMB) announced a secondary underwritten public offering of 2,650,000 shares of its common stock by the Company’s Chairman, John Allison.

Mr. Allison is selling the shares offered in this offering for estate planning purposes and will receive all of the net proceeds from such offering. The Company will not sell any shares and will not receive any proceeds from the offering.

Following the completion of the offering, Mr. Allison will continue to beneficially own 6,479,536 shares of the Company’s common stock, assuming all shares offered in this offering are sold, and he will continue to serve as Chairman of the Board.

“My financial advisors have been encouraging me to work on my estate planning for some time. Thus, today I am finally executing on their request,” said John Allison, Chairman. “My 100% commitment to this Company has not changed. My health is good and I have the same passion for Home BancShares today as I did when I founded this Company.”

Stephens Inc. is serving as sole book-running manager for the offering.

This offering is being made pursuant to an effective shelf registration statement on Form S-3 previously filed by the Company with the Securities and Exchange Commission (the “SEC”). Before investing, investors should read the prospectus in that registration statement and the related prospectus supplement to be filed with the SEC for more complete information about the Company, the selling shareholder and the offering. Copies of the prospectus supplement and the accompanying prospectus will be available by visiting the SEC’s website at www.sec.gov or from Stephens Inc., 111 Center Street, Little Rock, Arkansas 72201, Attn: Syndicate (1-800-643-9691).

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In

Related Categories

Equity Offerings

Related Entities

Stephens Inc., S3, Earnings

Add Your Comment