TUPELO — Renasant Corporation has filed a shelf registration statement on Form S-3 with the Securities and Exchange Commission (SEC). The shelf registration statement, once the SEC declares it effective, will allow the company to raise capital from time to time, up to an aggregate of $150 million, through the sale of common or preferred stock, warrants and units or a combination thereof, subject to market conditions.
Specific terms and prices will be determined at the time of any offering under a separate prospectus supplement that the company will be required to file with the SEC at the time of the specific offering.
“The shelf registration gives us greater flexibility in the capital raising process, should we elect to raise capital,” said Renasant chairman and CEO E. Robinson McGraw. “While we believe that Renasant currently maintains a strong capital position in light of its current and anticipated capital needs, the shelf registration better positions Renasant to take advantage of potential opportunities for expansion, should such opportunities arise, and to address current economic conditions.”
Renasant said it does not currently plan to offer or sell any of the securities covered by the shelf registration statement.
The proceeds of the sale of securities, if and when offered, would be used for general corporate purposes as described in any prospectus supplement and could include the expansion of the company’s banking, insurance and wealth management operations as well as other business opportunities.
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