Joint bookrunners Stephens, Keefe, Bruyette, BMO and JMP are assisting
By Devika Patel
Knoxville, Tenn., Sept. 20 - Regional Management Corp. priced a $95.7 million secondary sale of stock on Sept. 19, according to an 8-K filed Friday with the Securities and Exchange Commission. The deal was announced Sept. 16 and has a $14.36 million greenshoe.
The selling stockholders, Palladium Equity Partners III, LP and Parallel 2005 Equity Fund, LP, will sell 3.48 million common shares. The price per share of $27.50 is a 3.75% discount to $28.57, the Sept. 19 closing share price.
Stephens Inc., Keefe, Bruyette & Woods, Inc., BMO Capital Markets Corp. and JMP Securities LLC are the joint bookrunning managers.
Settlement is expected Sept. 25.
The consumer finance company is based in Greenville, S.C.
| Issuer: | Regional Management Corp.
|
| Issue: | Common stock
|
| Amount: | $95.7 million
|
| Greenshoe: | $14,355,000
|
| Shares: | 3.48 million
|
| Price: | $27.50
|
| Warrants: | No
|
| Bookrunners: | Stephens Inc., Keefe, Bruyette & Woods, Inc., BMO Capital Markets Corp. and JMP Securities LLC
|
| Co-manager: | FBR Capital Markets & Co.
|
| Announcement date: | Sept. 16
|
| Pricing date: | Sept. 19
|
| Settlement date: | Sept. 25
|
| Stock symbol: | NYSE: RM
|
| Stock price: | $28.57 at close Sept. 19
|
| Market capitalization: | $358.27 million
|
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