Bookrunner Stifel, Nicolaus helps fund organic growth and acquisitions
By Devika Patel
Knoxville, Tenn., Dec. 5 - First Business Financial Services, Inc. said it priced a $25.3 million public offering of stock with a 15% greenshoe.
The company will sell 1.1 million common shares at $23.00 per share. The price per share reflects a 1.71% discount to the Dec. 4 closing share price of $23.40.
Stifel, Nicolaus & Co., Inc. is the lead manager and sole bookrunner.
Settlement is expected Dec. 10.
Proceeds will support the future growth of the company by allowing it to accelerate its organic growth and to pursue acquisitions. The proceeds will also be used to repay a portion of the company's subordinated debt.
The bank holding company is based in Madison, Wis.
| Issuer: | First Business Financial Services, Inc.
|
| Issue: | Common stock
|
| Amount: | $25.3 million
|
| Greenshoe: | 15%
|
| Shares: | 1.1 million
|
| Price: | $23.00
|
| Warrants: | No
|
| Bookrunner: | Stifel, Nicolaus & Co., Inc.
|
| Co-managers: | Raymond James & Associates, Inc. and FIG Partners, LLC
|
| Pricing date: | Dec. 5
|
| Settlement date: | Dec. 10
|
| Stock symbol: | Nasdaq: FBIZ
|
| Stock price: | $23.40 at close Dec. 4
|
| Market capitalization: | $61.94 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
