Deal sells 2,975,000 common shares, has $2.63 million greenshoe
By Devika Patel
Knoxville, Tenn., March 28 - Regional Management Corp. said it priced its $44.63 million initial public offering of stock with a $2.63 million greenshoe. It expects the shares to trade on the New York Stock Exchange under the symbol "RM."
The company will sell 2,975,000 common shares at $15.00 per share.
The deal is being conducted by joint bookrunning managers Jefferies & Co., Inc. and Stephens Inc. JMP Securities LLC and BMO Capital Markets Corp. are joint lead managers.
In addition to the IPO, some of the company's shareholders are offering 1,225,000 shares at the same price for a total of $18.38 million. They have granted the underwriters a $6.83 million greenshoe.
The consumer finance company is based in Greenville, S.C.
| Issuer: | Regional Management Corp.
|
| Issue: | Common stock
|
| Amount: | $44,625,000
|
| Greenshoe: | $2,625,000
|
| Shares: | 2,975,000
|
| Price: | $15.00
|
| Warrants: | No
|
| Managers: | Jefferies & Co., Inc. and Stephens Inc. (bookrunners); JMP Securities LLC and BMO Capital Markets Corp. (lead managers)
|
| Pricing date: | March 28
|
| Expected listing: | NYSE: RM
|
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