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Equity Bancshares (NYSE: EQBK) has announced the pricing of its underwritten public offering of 1,797,600 shares of Class A common stock at $44.50 per share, totaling $80 million. The company has granted underwriters a 30-day option to purchase up to additional 269,640 shares. Stephens Inc. is the sole book-running manager, with several co-managers including D.A. Davidson & Co. and Piper Sandler & Co. The proceeds will support continued growth, strategic acquisitions, organic growth investments in Equity Bank, potential repayment of subordinated debt, and general corporate purposes. The offering is expected to close around December 4, 2024.
Equity Bancshares (NYSE: EQBK) ha annunciato il prezzo della sua offerta pubblica sottoscritta di 1.797.600 azioni di azioni ordinarie di Classe A a 44,50 dollari per azione, per un totale di 80 milioni di dollari. L’azienda ha concesso agli underwriter un’opzione di acquisto di ulteriori 269.640 azioni per un periodo di 30 giorni. Stephens Inc. è il solo gestore principale dell’emissione, con diversi co-gestori tra cui D.A. Davidson & Co. e Piper Sandler & Co. I proventi supporteranno la crescita continua, acquisizioni strategiche, investimenti per la crescita organica in Equity Bank, potenziale rimborso di debito subordinato e scopi aziendali generali. Si prevede che l’offerta si chiuda intorno al 4 dicembre 2024.
Equity Bancshares (NYSE: EQBK) ha anunciado el precio de su oferta pública subastada de 1,797,600 acciones de acciones ordinarias Clase A a $44.50 por acción, totalizando $80 millones. La empresa ha otorgado a los suscriptores una opción de compra de hasta 269,640 acciones adicionales durante un período de 30 días. Stephens Inc. es el único gerente de libro principal, con varios co-gerentes incluyendo a D.A. Davidson & Co. y Piper Sandler & Co. Los ingresos apoyarán el crecimiento continuo, adquisiciones estratégicas, inversiones en crecimiento orgánico en Equity Bank, el posible reembolso de deuda subordinada y fines corporativos generales. Se espera que la oferta cierre alrededor del 4 de diciembre de 2024.
Equity Bancshares (NYSE: EQBK)는 1,797,600주의 A등급 보통주에 대한 공모가를 주당 $44.50로 책정했으며, 총액은 $8000만에 달한다고 발표했습니다. 회사는 인수자에게 추가로 269,640주를 구매할 수 있는 30일 옵션을 부여했습니다. Stephens Inc.가 단독 북관리 매니저이며, D.A. Davidson & Co. 및 Piper Sandler & Co.를 포함한 여러 공동 관리자도 있습니다. 수익은 지속적인 성장, 전략적 인수, Equity Bank에 대한 유기적 성장 투자, 잠재적 후순위 부채 상환 및 일반 기업 목적을 지원하는 데 사용될 것입니다. 이 제안은 2024년 12월 4일 경에 마감될 예정입니다.
Equity Bancshares (NYSE: EQBK) a annoncé le prix de son offre publique souscrite de 1.797.600 actions d’actions ordinaires de Classe A au prix de 44,50 $ par action, pour un total de 80 millions $. L’entreprise a accordé aux souscripteurs une option d’achat de 269.640 actions supplémentaires pendant 30 jours. Stephens Inc. est le seul gestionnaire principal de cette émission, avec plusieurs co-gestionnaires, y compris D.A. Davidson & Co. et Piper Sandler & Co. Les recettes soutiendront la croissance continue, des acquisitions stratégiques, des investissements pour la croissance organique dans Equity Bank, le remboursement potentiel de dettes subordonnées et des objectifs d’entreprise généraux. L’offre devrait être clôturée autour du 4 décembre 2024.
Equity Bancshares (NYSE: EQBK) hat den Preis für ihr öffentliches Angebot von 1.797.600 Aktien der Klasse A zum Preis von 44,50 $ pro Aktie bekannt gegeben, was insgesamt 80 Millionen $ ergibt. Das Unternehmen hat den Underwritern eine 30-tägige Option eingeräumt, zusätzliche 269.640 Aktien zu erwerben. Stephens Inc. ist der einzige Buchführende Manager, zusammen mit mehreren Co-Managern, darunter D.A. Davidson & Co. und Piper Sandler & Co. Die Einnahmen werden das weitere Wachstum, strategische Akquisitionen, organische Wachstumsinvestitionen in Equity Bank, mögliche Rückzahlungen nachrangiger Schulden sowie allgemeine Unternehmenszwecke unterstützen. Es wird erwartet, dass das Angebot um den 4. Dezember 2024 abgeschlossen wird.
Positive
- Successful pricing of $80 million public offering indicating strong market interest
- Additional capital raised can support strategic growth initiatives and acquisitions
- Potential reduction in debt through repayment of subordinated debt
Negative
- Potential dilution of existing shareholders’ equity due to new share issuance
- Share price set at $44.50 may represent a discount to market price
Insights
This $80 million public offering of Class A common stock represents a significant capital raise for Equity Bancshares. At $44.50 per share for 1,797,600 shares, with an option for an additional 269,640 shares, this offering will substantially strengthen the company’s balance sheet. The stated use of proceeds indicates a multi-pronged growth strategy, including potential M&A activity, organic growth support and possible debt restructuring through subordinated debt repayment.
The timing and pricing suggest strong market confidence, with the stock being offered at a reasonable valuation relative to the company’s market cap of $733.9 million. The involvement of multiple reputable underwriters, led by Stephens Inc., adds credibility to the offering. This capital raise positions the bank for expansion opportunities while maintaining regulatory capital requirements, though existing shareholders should consider the dilutive effect of approximately 24.5% to the current share count.
WICHITA, Kan.–(BUSINESS WIRE)– Equity Bancshares, Inc. (NYSE: EQBK) (“Equity” or the “Company”) today announced the pricing of its underwritten public offering of 1,797,600 shares of its Class A common stock (the “common stock”), at a public offering price of $44.50 per share, for an aggregate offering amount of $80 million. In addition, the Company has granted the underwriters a 30-day option to purchase up to an additional 269,640 shares of common stock at the public offering price, less underwriting discounts.
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.
The Company intends to close the offering, subject to customary conditions, on or about December 4, 2024.
Additional Information Regarding the Offering
The offering is being made only by means of a prospectus supplement and accompanying base prospectus. The Company has filed a registration statement on Form S-3 (File No. 333-267025), and a preliminary prospectus supplement to the base prospectus contained in the registration statement with the U.S. Securities and Exchange Commission (the “SEC”) for the shares of Class A common stock to which this communication relates and intends to file a final prospectus supplement relating to the shares of Class A common stock. Prospective investors should read the preliminary prospectus supplement and accompanying base prospectus in the registration statement and other documents the Company has filed or will file with the SEC for more complete information about the Company and the offering. You may obtain these documents for free by visiting the SEC’s website at www.sec.gov. Alternatively, you may request copies of the base prospectus and preliminary prospectus supplement 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 SEC 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/20241202049586/en/
Media Contact:
Russell Colburn
Public Relations & Communications Manager
Equity Bancshares, Inc.
(816) 446-0052
Investor Contact:
Brian Katzfey
VP, Director of Corporate Development and Investor Relations
Equity Bancshares, Inc.
(316) 858-3128
Source: Equity Bancshares
FAQ
What is the price per share for Equity Bancshares (EQBK) public offering in December 2024?
Equity Bancshares priced its public offering at $44.50 per share.
How many shares is Equity Bancshares (EQBK) offering in its December 2024 public offering?
Equity Bancshares is offering 1,797,600 shares of Class A common stock, with an additional option for underwriters to purchase up to 269,640 shares.
What is the total value of Equity Bancshares (EQBK) public offering announced in 2024?
The aggregate offering amount is $80 million.
How will Equity Bancshares (EQBK) use the proceeds from its 2024 public offering?
The proceeds will be used for continued growth, strategic acquisitions, organic growth investments in Equity Bank, potential repayment of subordinated debt, and general corporate purposes.
