Co-Manager
Renasant Corporation
Equity Capital Markets
Follow-On Offering
Transaction Details
- On December 14, 2016, Renasant Corporation (NASDAQ: RNST) (the “Company”), the parent of Renasant Bank, announced the pricing of an underwritten public offering of 1,900,000 shares of the Company’s common stock at a price to the public of $41.50 per share, for gross proceeds of approximately $78.85 million
- The offering consisted of 100% primary shares
- The Company expects to use the net proceeds of the offering for general corporate purposes, which may include providing capital to support growth organically or through strategic acquisitions of other financial institutions or businesses related to banking, repaying indebtedness, financing investments and capital expenditures, and for investments in Renasant Bank as regulatory capital.
- Stephens Inc. served as a co-manager in the offering
About the company
Renasant Corporation is a bank holding company headquartered in Tupelo, Mississippi. Through its wholly-owned bank subsidiary, Renasant Bank, a Mississippi banking corporation, and its subsidiary, Renasant Insurance, Inc., Renasant operates more than 175 banking, mortgage, financial services and insurance offices located throughout north and central Mississippi, Tennessee, Georgia, north and central Alabama and north Florida. Renasant Bank was originally founded in 1904 as The Peoples Bank & Trust Company. In 1982, it was reorganized as a bank holding company and in 2005, its name was changed from The Peoples Holding Company to Renasant Corporation.
Sources: 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 external sources which we consider reliable, but we have not independently verified such information and do not guarantee that it is accurate or complete. Such information is believed to be accurate on the date of issuance of the material. 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 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/715072/000119312516791845/d306783d424b5.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.