MEMPHIS, Tenn., April 29, 2008 (PRIME NEWSWIRE) -- First Horizon National Corporation (NYSE:FHN) announced today the pricing of an underwritten public offering of 60 million shares of its common stock at a price of $10.00 per share, for estimated net proceeds of approximately $572 million. First Horizon has also granted the underwriters a 30-day option to purchase up to an additional 9 million shares of common stock.
First Horizon intends to use substantially all of the net proceeds from this offering for general corporate purposes. First Horizon expects to close the transaction on or about May 2, 2008, subject to the satisfaction of customary closing conditions.
Goldman, Sachs & Co. and UBS Investment Bank are acting as joint book-running managers for the offering. FTN Midwest Securities is acting as a senior co-manager. Information about the offering will be available in the prospectus supplement and related prospectus for the offering to be filed with the Securities and Exchange Commission. Copies of the prospectus supplement and related prospectus can be obtained from Goldman, Sachs & Co., Attn: Prospectus Dept., 85 Broad St., New York, NY 10004, fax (212)902-9316, e-mail prospectus-ny@ny.email.gs.com, or UBS Investment Bank, Prospectus Department, 299 Park Ave., New York NY 10171, phone (888)827-7275.
About First Horizon
The 10,000 employees of First Horizon National Corp. (NYSE:FHN) provide financial services to individuals and business customers through hundreds of offices located in more than 40 states. The corporation's three major brands -- First Tennessee, FTN Financial and First Horizon -- provide customers with a broad range of products and services including regional banking, capital markets and mortgage banking.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy shares of common stock, nor shall there be any sale of shares of common stock in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
FHN-G