Proceeds will strengthen financial holding company's capital position
By Devika Patel
Knoxville, Tenn., May 24 - Enterprise Financial Services Corp. said it sold $34.98 million of common stock in a public offering. The deal priced for $30.4 million with a $4.56 million over-allotment option, which was fully exercised, on May 18.
The company sold 2,386,000 shares at $12.75 apiece, a 5.97% discount to the May 18 closing share price of $13.56. Of the shares, 357,900 were part of the fully exercised greenshoe.
Keefe, Bruyette & Woods, Inc. was the bookrunner.
Proceeds will be used to 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: | $34,984,725 (including $4,563,225 greenshoe)
|
| Shares: | 2,743,900
|
| 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: | $194.28 million
|
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