Funds to strengthen capital position, for general corporate purposes
By Melissa Kory
Cleveland, May 19 - Enterprise Financial Services Corp. announced that it priced a public offering of 2,386,000 shares of common stock, or $30.4 million.
The shares will be sold at $12.75 per share, a 5.97% discount from the May 18 closing share price of $13.56.
Keefe, Bruyette & Woods, Inc. is acting as bookrunner of the offering.
The company has granted the underwriter a 30-day option to purchase up to an additional 357,900 shares of common stock.
The offering is expected to close on May 24.
The proceeds will be used to further strengthen the company's capital position and for other general corporate purposes, which may include capital to support growth and acquisition opportunities.
St. Louis-based Enterprise is a financial holding company.
| Issuer: | Enterprise Financial Services Corp.
|
| Issue: | Common stock
|
| Amount: | $30.4 million
|
| Shares: | 2,386,000
|
| Greenshoe: | 357,900 shares
|
| Price: | $12.75 per share
|
| Warrants: | No
|
| Bookrunner: | Keefe, Bruyette & Woods, Inc.
|
| Pricing date: | May 18
|
| Settlement date: | May 24
|
| Stock symbol: | Nasdaq: EFSC
|
| Stock price: | $13.56 at close May 18
|
| Market capitalization: | $207.7 million
|
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