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Hancock Holding prices public offering of common stock

Posted on: Wed, 21 Oct 2009 09:37:00 EDT

Symbols: HBHC

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Oct 21, 2009 (Datamonitor via COMTEX) --
HBHC | Quote | Chart | News | PowerRating -- Hancock Holding Company, a US-based provider of financial services, has priced a public offering of 4.3 million shares of its common stock at $35.50 per share for gross proceeds of $152.65 million.

The company has granted the underwriters a 30-day option to purchase up to an additional 645,000 shares of common stock to cover over-allotments, if any.

Keefe, Bruyette & Woods and Morgan Stanley acted as joint bookrunning managers, and Sterne Agee & Leach, Stifel Nicolaus & Company and Fig Partners served as co-managers.

The company intends to use the proceeds of the offering for general corporate purposes, which may include financing acquisition opportunities and other expansion efforts.

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