Equity Bancshares, Inc. Announces Closing of $92 Million Class A Common Stock Offering Including Full Exercise of Over-Allotment Option
Equity Bancshares (NYSE: EQBK) has successfully completed its underwritten public offering of 2,067,240 shares of Class A common stock at $44.50 per share, including 269,640 shares from the full exercise of the underwriters' over-allotment option. The offering generated gross proceeds of $92.0 million, with expected net proceeds of $86.9 million after deducting underwriting discounts and expenses.
The company plans to use the proceeds to support continued growth, including strategic acquisitions, investments in Equity Bank for organic growth, potential repayment of subordinated debt, and general corporate purposes. Stephens Inc. served as the sole book-running manager, with D.A. Davidson & Co., Hovde Group, , Keefe, Bruyette & Woods, Inc., and Piper Sandler & Co. acting as co-managers.
Equity Bancshares (NYSE: EQBK) ha completato con successo la sua offerta pubblica sottoscritta di 2.067.240 azioni di azioni comuni di Classe A a 44,50 $ per azione, inclusi 269.640 azioni derivanti dall'esercizio completo dell'opzione di over-allotment degli underwriter. L'offerta ha generato proventi lordi di 92,0 milioni di dollari, con proventi netti attesi di 86,9 milioni di dollari dopo aver dedotto gli sconti e le spese di sottoscrizione.
L'azienda prevede di utilizzare i proventi per sostenere una crescita continua, incluse acquisizioni strategiche, investimenti in Equity Bank per una crescita organica, il potenziale rimborso di debiti subordinati e scopi aziendali generali. Stephens Inc. ha svolto il ruolo di unico book-running manager, mentre D.A. Davidson & Co., Hovde Group, Keefe, Bruyette & Woods, Inc. e Piper Sandler & Co. hanno agito come co-manager.
Equity Bancshares (NYSE: EQBK) ha completado con éxito su oferta pública garantizada de 2,067,240 acciones de acciones ordinarias de Clase A a $44.50 por acción, incluyendo 269,640 acciones de la plena ejecución de la opción de sobreasignación de los suscriptores. La oferta generó ingresos brutos de $92.0 millones, con ingresos netos esperados de $86.9 millones después de deducir los descuentos de suscripción y gastos.
La empresa planea utilizar los ingresos para apoyar el crecimiento continuo, incluyendo adquisiciones estratégicas, inversiones en Equity Bank para crecimiento orgánico, posible pago de deudas subordinadas y fines corporativos generales. Stephens Inc. actuó como el único gerente de libro, mientras que D.A. Davidson & Co., Hovde Group, Keefe, Bruyette & Woods, Inc. y Piper Sandler & Co. actuaron como co-gerentes.
Equity Bancshares (NYSE: EQBK)은 2,067,240주의 A 클래스 보통주 공개 모집을 주당 44.50 달러로 성공적으로 완료하였습니다. 이에는 인수인 옵션의 전량 행사로 인한 269,640주가 포함됩니다. 이번 공개 모집은 9,200만 달러의 총 수익을 창출하였으며, 인수 수수료와 비용을 공제한 후 예상 순수익은 8,690만 달러입니다.
회사는 이러한 수익을 전략적 인수, Equity Bank에 대한 유기적 성장 투자, 자 subordinated debt 상환 및 일반 회사 목적을 위한 지속적인 성장 지원에 사용할 계획입니다. Stephens Inc.는 단독 북 런닝 매니저로 활동하였으며, D.A. Davidson & Co., Hovde Group, Keefe, Bruyette & Woods, Inc., Piper Sandler & Co.가 공동 매니저로 참여하였습니다.
Equity Bancshares (NYSE: EQBK) a réussi à compléter son offre publique souscrite de 2 067 240 actions d'actions ordinaires de Classe A à 44,50 $ par action, incluant 269 640 actions provenant de l'exercice complet de l'option de surallocation des souscripteurs. L'offre a généré des recettes brutes de 92,0 millions de dollars, avec des recettes nettes attendues de 86,9 millions de dollars après déduction des remises et des frais de souscription.
L'entreprise prévoit d'utiliser les recettes pour soutenir une croissance continue, y compris des acquisitions stratégiques, des investissements dans Equity Bank pour une croissance organique, un éventuel remboursement de la dette subordonnée et à des fins d'entreprise générales. Stephens Inc. a agi en tant que seul gestionnaire de livre, avec D.A. Davidson & Co., Hovde Group, Keefe, Bruyette & Woods, Inc. et Piper Sandler & Co. agissant en tant que co-managers.
Equity Bancshares (NYSE: EQBK) hat erfolgreich sein unterzeichnetes öffentliches Angebot von 2.067.240 Aktien der Klasse A Stammaktien zu einem Preis von 44,50 $ pro Aktie abgeschlossen, einschließlich 269.640 Aktien aus der vollständigen Ausübung der Überplatzierungsoption der Underwriter. Das Angebot generierte brutto Einnahmen von 92,0 Millionen Dollar, wobei die erwarteten Nettoerlöse 86,9 Millionen Dollar betragen, nachdem die Underwriting-Rabatte und -Ausgaben abgezogen wurden.
Das Unternehmen plant, die Einnahmen zur Unterstützung des kontinuierlichen Wachstums zu verwenden, einschließlich strategischer Akquisitionen, Investitionen in die Equity Bank für organisches Wachstum, möglicherweise zur Rückzahlung von nachrangigen Schulden und für allgemeine Unternehmenszwecke. Stephens Inc. fungierte als alleiniger Book-Running-Manager, während D.A. Davidson & Co., Hovde Group, Keefe, Bruyette & Woods, Inc. und Piper Sandler & Co. als Co-Manager tätig waren.
- Successfully raised $92.0 million in gross proceeds
- Full exercise of over-allotment option indicates strong demand
- Net proceeds of $86.9 million strengthen capital position
- Funds available for strategic growth and acquisition opportunities
- Potential dilution of existing shareholders due to new share issuance
- Additional shares in circulation may pressure stock price
Insights
This equity raise represents a significant capital injection for Equity Bancshares, with the company successfully raising
The stated use of proceeds - supporting continued growth, potential strategic acquisitions, organic growth funding and possible subordinated debt repayment - suggests a multi-faceted growth strategy. This capital raise provides financial flexibility and could accelerate the bank's expansion plans while potentially improving its capital structure through debt reduction. For a bank with a market cap of
The successful completion of this offering at a time of banking sector uncertainty highlights investor confidence in Equity Bancshares' business model and growth prospects. The participation of multiple respected underwriters including Stephens, D.A. Davidson and Piper Sandler adds credibility to the offering. The pricing at
The potential repayment of subordinated debt mentioned in the use of proceeds could improve the bank's cost of capital and strengthen its balance sheet structure. With regional banks facing increased scrutiny, this capital raise positions Equity Bancshares well for opportunistic acquisitions in a potentially favorable pricing environment. The additional capital buffer also enhances the bank's resilience against market volatility.
Stephens Inc. is acting as sole book-running manager for the offering. D.A. Davidson & Co., Hovde Group, LLC, Keefe, Bruyette & Woods, Inc. and Piper Sandler & Co. are acting as co-managers for the offering.
The Company intends to use the net proceeds of the offering to support its continued growth, including future strategic acquisitions, investments in Equity Bank to support organic growth, the potential repayment of existing subordinated debt, and for other general corporate purposes.
Additional Information Regarding the Offering
The offering was made by means of an effective shelf registration statement on Form S-3 (File No. 333-267025), including a preliminary prospectus supplement and final prospectus supplement, copies of which are available on the SEC’s website at www.sec.gov or may be obtained by contacting Stephens Inc. by telephone at (800) 643-9691 or by email at prospectus@stephens.com.
No Offer or Solicitation
This press release is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The securities being offered have not been approved or disapproved by the Securities and Exchange Commission or any other regulatory authority, nor has any such authority passed upon the accuracy or adequacy of the prospectus supplement or the shelf registration statement or prospectus relating thereto.
About Equity Bancshares, Inc.
Equity Bancshares, Inc. is the holding company for Equity Bank, offering a full range of financial solutions, including commercial loans, consumer banking, mortgage loans, trust and wealth management services and treasury management services, while delivering the high-quality, relationship-based customer service of a community bank. Learn more at www.equitybank.com.
Cautionary Notice Regarding Forward-Looking Statements
This press release contains “forward-looking statements” including statements with respect to the Company’s objectives, expectations and intentions and other statements that are not historical facts. All statements other than statements of historical fact are statements that could be forward-looking statements. Forward-looking statements include statements relating to the potential securities offering, which is opportunistic and subject to market conditions, and the use of proceeds from the offering. You can identify these forward-looking statements through the use of words such as “may,” “balance sheet optimization efforts,” “will,” “anticipate,” “assume,” “should,” “indicate,” “would,” “believe,” “contemplate,” “expect,” “estimate,” “continue,” “point to,” “project,” “could,” “intend,” “anticipate,” and other similar words and expressions of the future.
Forward-looking statements involve risks, uncertainties and other factors, which may be beyond our control, and which may cause the Company’s actual results, performance, achievements, or financial condition to be materially different from future results, performance, achievements, or financial condition expressed or implied by such forward-looking statements. You should not rely on any forward-looking statements as predictions of future events. You should not expect us to update any forward-looking statements, except as required by law. All forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, together with those risks and uncertainties described in “Risk Factors” in the Company’s annual report on Form 10-K for the fiscal year ended December 31, 2023 filed on March 7, 2024, the Company’s subsequent Quarterly Reports on Form 10-Q or Current Reports on Form 8-K, in the prospectus supplement and accompanying base prospectus relating to the offering, and in the Company’s other filings with the SEC, which are available at the SEC’s website www.sec.gov.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241204851162/en/
Media Contact:
Russell Colburn
Public Relations & Communications Manager
Equity Bancshares, Inc.
(913) 583-8011
rcolburn@equitybank.com
Investor Contact:
Brian Katzfey
VP, Director of Corporate Development and Investor Relations
Equity Bancshares, Inc.
(316) 858-3128
bkatzfey@equitybank.com
Source: Equity Bancshares
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