Co-Manager
Bank OZK
Debt Capital Markets
Preferred Stock
Transaction Details
- On October 28, 2021, Bank OZK (the “Bank”) (Nasdaq: OZK), announced the pricing of a public offering of 14,000,000 shares of its 4.625% Series A Non-Cumulative Perpetual Preferred Stock, par value $0.01 per share, and with a liquidation preference of $25 per share
- The Bank estimates that the net proceeds from the offering, after discounts and estimated offering expenses, will be approximately $339 million
- The Bank intends to use the net proceeds from the offering for repurchases of shares of its common stock pursuant to its stock repurchase program (the “Stock Repurchase Program”) and other general corporate purposes which may include, among other things, financing organic growth or strategic acquisitions, supporting its regulatory capital levels, and ongoing working capital needs
- The Bank intends to increase the size of its previously announced Stock Repurchase Program by an amount equal to the size of the offering
- The offering is expected to close on or about November 4, 2021, subject to the satisfaction of customary closing conditions
About the company
Bank OZK
Bank OZK (Nasdaq: OZK) is a regional bank providing innovative financial solutions delivered by expert bankers with a relentless pursuit of excellence. Established in 1903, Bank OZK conducts banking operations through 249 offices in eight states including Arkansas, Georgia, Florida, North Carolina, Texas, New York, California and Mississippi and had $26.1 billion in total assets as of September 30, 2021.
Source: Company filings
-
This material has been prepared solely for informative purposes as of its stated date and is not a solicitation, or an offer, to buy or sell any security. It does not purport to be a complete description of the securities, markets or developments referred to in the material. Information included in the material was obtained from sources which we consider reliable, but we have not independently verified such information and do not guarantee that it is accurate or complete. No subsequent publication or distribution of this material shall mean or imply that any such information or opinion remains current at any time after the stated date of the material. We do not undertake to advise you of any changes in any such information or opinion. Additional information is available upon request.
-
The offering of the Series A Preferred Stock is being made only by means of a prospectus. The prospectus relating to the offering is available at https://ir.ozk.com/static-files/94b0d0e0-6469-4fcf-9026-92c0a1f52fa1 and furnished on a Current Report on Form 8-K that will be filed with the Federal Deposit Insurance Corporation. Copies of the offering circular may be obtained from Stephens Inc.’s Fixed Income Syndicate Desk, at Stephens Inc., 111 Center Street, Little Rock, AR 72201, ATTN: Fixed Income Syndicate Desk. No offer to buy the securities can be accepted and no part of the purchase price can be received until the registration statement has become effective, and any such offer may be withdrawn or revoked, without obligation or commitment of any kind, at any time prior to the notice of its acceptance given after the effective date.
-
“Stephens” is the brand name for a family of independent privately held financial services firms, including Stephens Europe Limited, which is authorized and regulated by the Financial Conduct Authority (Registered office 12 Arthur Street, London, EC4R 9AB, Registered number 8817024) and Stephens Inc. which is regulated by the United States Securities and Exchange Commission and the Financial Industry Regulatory Authority (Home Office: 111 Center Street, Little Rock, AR USA, 501-377-2000). Stephens Inc. is a member of NYSE and SIPC. For more information, visit www.stephens.com. [stephens.us10.list-manage.com] © 2021 Stephens