TUPELO — BancorpSouth Inc. reports the underwriters for the recently announced public offering of BancorpSouth Inc. common stock have exercised in full their over-allotment option to purchase an additional 1,428,571 shares at a public offering price of $10.50 per share.
The company intends to use the net proceeds of this offering for general corporate purposes, including to maintain certain capital levels and liquidity at the company, potentially provide equity capital to BancorpSouth Bank, fund growth either organically or through acquisition of other financial institutions, insurance agencies, or other businesses that are closely aligned to the operations of the company, and fund investments in its subsidiaries.
The offering of common stock may be made only by means of a prospectus and a related prospectus supplement. Morgan Stanley & Co., LLC, and Stifel, Nicolaus & Company Incorporated are the joint book-running managers in the offering. Stephens Inc., Keefe, Bruyette & Woods, and Sandler O’Neill + Partners, L.P. are acting as co-managers for the stock offering.
BEFORE YOU GO…
… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.
If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.Click for more info