Equity Bancshares to price 1.5 million shares between $22.00, $24.00

Keefe, Bruyette & Woods and Stephens help fund preferreds redemption

By Devika Patel

Knoxville, Tenn., Nov. 2 – Equity Bancshares, Inc. will sell 1.5 million class A common shares in its initial public offering with a 30-day greenshoe of 268,500 additional shares, according to a Form S-1/A filed Monday with the Securities and Exchange Commission. The company has registered up to $49,404,000 of stock for the deal, which was announced on Oct. 9 and will be conducted alongside a secondary sale of 290,000 more shares.

The shares will be sold at a price expected to fall between $22.00 and $24.00 per share.

Keefe, Bruyette & Woods and Stephens Inc. are the bookrunners and Sandler O'Neill & Partners, LP is the co-manager.

Proceeds will be used to redeem the 16,372 series C preferred shares that were issued to the U.S. Department of Treasury in August 2011, for organic growth, for general corporate purposes and for potential acquisitions.

The bank holding company is based in Wichita, Kan. The company intends to list its stock on the Nasdaq stock exchange under the symbol “EQBK.”

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