CONWAY, Ark., June 23, 2006 (PRIMEZONE) -- John W. Allison, Chairman and Chief Executive Officer of Home BancShares, Inc. (Nasdaq:HOMB) announced today it has priced its public offering of 2.5 million shares of its common stock at $18.00 per share. Home BancShares has granted the underwriter an option to purchase up to an additional 375,000 shares of common stock to cover over-allotments. The offering is subject to customary closing conditions and is expected to close on Wednesday, June 28, 2006. The company expects to receive net proceeds of approximately $41.1 million from its sale of shares after deducting sales commissions and expenses. The company intends to use the proceeds of the offering for general corporate purposes, which may include, among other things, working capital needs and providing investments in bank subsidiaries. A portion of the net proceeds may be used to finance bank acquisitions, though no present plans exist.
Stephens Inc. acted as book running lead manager for the offering and Piper Jaffray and Sandler O'Neill + Partners, L.P. acted as co-managers.
Shares of Home BancShares common stock are scheduled to begin trading Friday, June 23, on the NASDAQ National Market under the symbol "HOMB."
Home BancShares, Inc. is a financial holding company, headquartered in Conway, Arkansas, with five wholly owned bank subsidiaries that provide a broad range of commercial and retail banking and related financial services to businesses, real estate developers and investors, individuals and municipalities. Three of the bank subsidiaries are located in central Arkansas market area, a fourth serves Stone County in north central Arkansas, and a fifth serves the Florida Keys and southwestern Florida.
A registration statement related to these securities has been filed with, and declared effective by, the Securities and Exchange Commission. This announcement shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, prior to registration or qualification under the securities laws of that jurisdiction.
Copies of the prospectus relating to this offering may be obtained from Stephens Inc., 111 Center Street, Little Rock, AR 72201, ATTN: Syndicate Department.