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.