BATON ROUGE, La., June 30, 2014 (GLOBE NEWSWIRE) -- Investar Holding Corporation ("Investar") (Nasdaq:ISTR) announced today that it has priced its initial public offering of 2,875,000 shares of common stock at $14.00 per share.
A photo accompanying this release is available at http://www.globenewswire.com/newsroom/prs/?pkgid=26240
The common stock has been approved for listing on the NASDAQ Global Market and is expected to begin trading on July 1, 2014 under the symbol "ISTR." The offering is expected to close on or about July 3, 2014.
The underwriters have a 30-day option to purchase up to an additional 431,250 shares from the Company at the initial public offering price less the underwriting discount.
Sandler O'Neill & Partners L.P. will serve as lead book-running manager for the offering and Sterne, Agee and Leach, Inc. will serve as a co-lead manager.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities 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.
When available, a copy of the preliminary prospectus relating to the proposed initial public offering may be obtained from:
Sandler O'Neill + Partners, L.P.
1251 Avenue of the Americas, 6th Floor
New York, New York 10020
Sterne, Agee & Leach, Inc.
Attn: Capital Markets
277 Park Avenue, 24th Floor
New York, New York 10172
Phone: (212) 338-4708
Investar Bank had total assets of $673 million as of March 31, 2014. It has 10 branches serving 4 markets in southeast Louisiana: the Baton Rouge area (2 branches in Baton Rouge, 1 in Port Allen and 1 in Prairieville), Livingston and Tangipahoa parishes (1 in Denham Springs and 1 in Hammond), the New Orleans area (1 in Metairie), the Northshore (2 in Mandeville), and the Lafayette area (1 in Lafayette).
This press release includes "forward-looking statements," including with respect to the proposed initial public offering. Forward-looking statements are subject to known and unknown risks and uncertainties, many of which may be beyond our control. We caution you that the forward-looking information presented in this press release is not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking information contained in this press release. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "plan," "seek," "comfortable with," "will," "expect," "intend," "estimate," "anticipate," "believe" or "continue" or the negative thereof or variations thereon or similar terminology. Any forward-looking information presented herein is made only as of the date of this press release, and we do not undertake any obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise.