Simmons First (SFNC) Commences $65M Common Stock Offering
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Simmons First National Corporation (NASDAQ: SFNC) announced today that it has commenced an underwritten public offering of approximately $65 million of its common stock. The underwriters will have a 30-day option to purchase up to an additional 15 percent of the offered amount of common stock from the Company, to cover over-allotments, if any.
Stephens Inc. will serve as lead bookrunner, Stifel, Nicolaus & Company, Incorporated will serve as joint bookrunner and Raymond James & Associates, Inc. will be a co-manager.
The shares will be issued pursuant to a prospectus supplement filed as part of a shelf registration statement previously filed with the Securities and Exchange Commission on Form S-3 and declared effective on September 9, 2009.
The Company intends to use the net proceeds from this offering for general corporate purposes and possible future acquisitions of other financial services businesses, including possible FDIC-assisted acquisition.
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