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Back to transactions
Financial Advisor

FB Financial Corporation

$284 Million 02/08/2017 Depository Complete
Lead Bankers: Brian Branson, Scott Studwell
Public Companies
Show Tombstone

Transaction Details

Revised terms of Clayton Banks acquisition

  • Reduces Clayton HC’s pro forma ownership to <5% (~1.5 million shares)
  • Cash payment of $124.2 million for the reduced stock consideration
  • FBK option to reduce or eliminate $60 million subordinated note to be issued at closing by paying cash

Private placement of $159 million to fund cash payment

  • 4,806,710 shares sold to accredited investors
  • Expected to close on or about June 1, 2017

Impact of both transactions

  • Incrementally more EPS accretion
  • ~20% annually in 2018 and 2019 vs. original guidance of 15%+
  • Strengthens capital ratios relative to original structure
  • Materially reduces projected TBV dilution at closing and the earnback period
Sources: Company filings and publicly available information.
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