PINE BLUFF, Ark., Nov. 3, 2009 (GLOBE NEWSWIRE) -- Simmons First National Corporation (Nasdaq:SFNC) announced today that it has commenced an underwritten public offering of approximately $65 million of its common stock. The underwriters will have a 30-day option to purchase up to an additional 15 percent of the offered amount of common stock from the Company, to cover over-allotments, if any. Stephens Inc. will serve as lead bookrunner, Stifel, Nicolaus & Company, Incorporated will serve as joint bookrunner and Raymond James & Associates, Inc. will be a co-manager.
The shares will be issued pursuant to a prospectus supplement filed as part of a shelf registration statement previously filed with the Securities and Exchange Commission on Form S-3 and declared effective on September 9, 2009.
The Company intends to use the net proceeds from this offering for general corporate purposes and possible future acquisitions of other financial services businesses, including possible FDIC-assisted acquisition.
This press release 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 state 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. The offering will be made only by means of a prospectus, copies of which may be obtained from Stephens Inc., Attn: Syndicate, 111 Center Street, Little Rock, AR 72201, or by faxing (501) 377-2404, calling toll-free (800) 643-9691 or emailing sfarmer@stephens.com, or from Stifel, Nicolaus & Company, Incorporated, ATTN: Prospectus Department, One South Street, 15th Floor, Baltimore, MD 21202, or calling (443) 224-1988.
Simmons First National Corporation
Simmons First National Corporation is a multi-bank financial holding company registered under the Bank Holding Company Act of 1956, as amended. The Company is headquartered in Arkansas and conducts its business operations through eight community banks operating in 88 offices, of which 84 are financial centers, located in 47 communities in Arkansas. The Company's common stock trades on the NASDAQ Global Select Market under the symbol "SFNC."
The Simmons First National Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=4819
Forward Looking Statements
This release contains forward-looking statements regarding the Company's plans, expectations, goals and outlook for the future. Statements in this press release that are not historical facts should be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements of this type speak only as of the date of this news release. By nature, forward-looking statements involve inherent risk and uncertainties. Various factors, including, but not limited to, economic conditions, credit quality, interest rates, loan demand and changes in the assumptions used in making the forward-looking statements, could cause actual results to differ materially from those contemplated by the forward-looking statements. Actual results could differ materially from the forward-looking statements discussed in the Company's Annual Report on Form 10-K and other filings with the Securities and Exchange Commission, available at the SEC's website, www.sec.gov. All information in this release is as of the date of this release. The Company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company's expectations.