Lead Left Joint Bookrunning Manager
Spirit of Texas Bancshares, Inc.
Equity Capital Markets
Initial Public Offering
Transaction Details
- On May 3rd, Spirit of Texas Bancshares, Inc. (NASDAQ: STXB) (“Spirit”), the bank holding company for Spirit of Texas Bank, announced the pricing of the initial public offering of 2,000,000 shares of its common stock
- The offering priced at $21.00 per share
- Spirit will be listed on the NASDAQ Global Select Market under the trading symbol “STXB” beginning on May 4, 2018
- The offering consisted of 100% primary shares
- Spirit intends to use the net offering proceeds for:
- Supporting organic growth
- Potential future acquisition opportunities
- General corporate purposes
- Potential repayment of outstanding indebtedness
- Spirit has also granted the underwriters a 30-day option to purchase up to an additional 300,000 shares of its common stock
- Stephens Inc. served as Lead Left Joint Bookrunning Manager on the offering
About the company
Spirit is the bank holding company for Spirit of Texas Bank, a state savings bank with total assets of $1.03 billion, headquartered in Conroe, Texas that delivers relationship-driven financial services to small and medium-sized businesses and individuals through 15 full-service branches located primarily in the Houston and Dallas/Fort Worth metropolitan areas.
Sources: Company filings.
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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/1499453/000119312518131911/d351576ds1a.htm. Additionally, a copy of the Free Writing Prospectus may be obtained at the following link: https://www.sec.gov/Archives/edgar/data/1499453/000119312518132084/d574009dfwp.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.