Sole Book Running Manager
Business First Bancshares, Inc.
Equity Capital Markets
Follow-On Offering
Transaction Details
- On October 12, 2022, Business First Bancshares, Inc. (Nasdaq: BFST) (“Business First” or the “Company”), the parent holding company of b1Bank, announced the pricing of an underwritten public offering of 2,500,000 shares of its common stock at a price to the public of $20.00 per share, for gross proceeds of $50 million
- Proceeds from the offering will be used for general corporate purposes, which may include augmenting capital, supporting future organic growth, funding potential acquisition opportunities, and redeeming certain of its subordinated debt
About the company
As of June 30, 2022, Business First Bancshares, Inc., (Nasdaq: BFST) through its banking subsidiary b1BANK, has $5.5 billion in assets, $6.2 billion in assets under management through b1BANK’s affiliate Smith Shellnut Wilson LLC (SSW) (excludes $0.9 billion of b1BANK assets managed by SSW) and operates banking centers and loan production offices across Louisiana and Texas providing commercial and personal banking products and services. Commercial banking services include commercial loans, letters of credit, working capital lines, equipment financing and treasury management services. b1BANK was awarded #1 Best-In-State Bank, Louisiana, by Forbes and Statista and is a multiyear winner of American Banker’s “Best Banks to Work For.”
Sources: Company Materials.
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The offering of these securities is being made only by means of a prospectus, copies of which may be obtained from Stephens Inc.’s Equity Syndicate Desk, at Stephens Inc., 111 Center Street, Little Rock, AR 72201, ATTN: Equity Syndicate Desk, or from the Securities and Exchange Commission’s website at www.sec.gov at the following link https://www.sec.gov/Archives/edgar/data/1624322/000143774921013713/bfbi20210519_s3.htm. A registration statement relating to these securities has been filed with the Securities and Exchange Commission. 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of the purchase price can be received until the registration statement has become effective, and any such offer may be withdrawn or revoked, without obligation or commitment of any kind, at any time prior to the notice of its acceptance given after the effective date.
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