Home BancShares prices public offering of common stock

Wed. September 16, 2009; Posted: 02:34 PM

Sep 16, 2009 (Datamonitor Financial Deals Tracker via COMTEX) -- CBNC | Quote | Chart | News | PowerRating -- Update on September 16, 2009:

Home BancShares, Inc., the US-based bank holding company of Centennial Bank, has priced an underwritten public offering of 4.95 million shares of its common stock at a price of $19.85 per share for gross proceeds of approximately $98.3 million.

The company has granted the underwriters a 30-day option to purchase up to an additional 742,500 shares of the company's common stock to cover over-allotments, if any.

Announcement (September 11, 2009):

Home BancShares has commenced an underwritten public offering of its common stock to raise approximately $90 million.

Home BancShares has granted the underwriters a 30-day option to purchase up to an additional 15% of the offered amount of common stock from the company to cover over-allotments.

Stephens, Inc. and RBC Capital Markets Corporation are acting as joint book-runners, while Stifel, Nicolaus & Company, Incorporated and Howe Barnes Hoefer & Arnett are acting as co-managers for the offering.

Deal Value (US$ Million) 98.3
Deal Type                IPO
Sub-Category             Secondary Offering
Deal Status              Announced: 2009-09-11

Deal Participants

Target (Company) Home BancShares, Inc.

Deal Rationale

Home BancShares intends to use the net proceeds from this offering to fund internal growth and selective acquisitions that meet its criteria, including possible FDIC-assisted acquisitions, and for general corporate purposes. Depending on further evaluation, the company may determine to apply proceeds to the repurchase of all or a portion of the Series A preferred shares and warrant it issued to the US Treasury under the TARP Capital Purchase Program.

Offer Price ($ per share) 19.85
No. Shares Issued         4950000

For full details for CBNC click here.

More News: Market Updates | Stock Alerts | All Trading News | Stock Index

Archives

Feedback

Email Article Link

Close X

RELATED SITES

Please call 1-213-955-5858 ext. 1

Tax Relief Bank Levy Wage Garnishment

Disclaimer:

The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.

It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.

HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.

The Connors Group, Inc.
10 Exchange Place, Suite 1800
Jersey City, NJ 07302

All analyst commentary provided on TradingMarkets.com is provided for educational purposes only. The analysts and employees or affiliates of TradingMarkets.com may hold positions in the stocks or industries discussed here. This information is NOT a recommendation or solicitation to buy or sell any securities. Your use of this and all information contained on TradingMarkets.com is governed by the Terms and Conditions of Use. Please click the link to view those terms. Follow this link to read our Editorial Policy.