Bank of the Ozarks, Inc. Prices Public Offering of Common Stock
May 24 2017 - 8:01PM
Business Wire
Bank of the Ozarks, Inc. (“Company”) (NASDAQ: OZRK) today
announced the pricing of an underwritten registered public offering
of 6.6 million shares of common stock. The Company has also granted
the underwriter a 30-day option to purchase up to an additional
990,000 shares of its common stock. J.P. Morgan is acting as sole
book-running manager.
The Company expects gross proceeds from this offering, before
underwriting discounts and offering expenses, of approximately
$302.3 million, or $347.6 million if the underwriter exercises its
option to purchase additional shares in full. The Company expects
to use the net proceeds to support the Company’s organic growth,
including growth in non-purchased loans and leases, for potential
future acquisitions, and for general corporate purposes.
Closing of the offering is expected to occur on or about May 31,
2017, subject to customary closing conditions.
The offering is being made pursuant to an effective shelf
registration statement filed with the Securities and Exchange
Commission (“SEC”). The offering will be made only by means of a
prospectus supplement and the accompanying base prospectus, copies
of which may be obtained by contacting J.P. Morgan Securities LLC,
c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewater, NY 11717, or telephone: 866-803-9204.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy the securities described herein,
nor shall there be any sale of these securities in any state or
other jurisdiction in which such an offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
ABOUT BANK OF THE OZARKS, INC.
Bank of the Ozarks, Inc. shares trade on the NASDAQ Global
Select Market under the symbol “OZRK.” The Company owns a
state-chartered subsidiary bank that conducts banking operations
through 250 offices in Arkansas, Georgia, Florida, North Carolina,
Texas, Alabama, South Carolina, New York and California. The
Company may be contacted at (501) 978-2265 or P. O. Box 8811,
Little Rock, Arkansas 72231-8811.
CAUTION ABOUT FORWARD-LOOKING STATEMENTS
This release and certain other communications by the Company
contain statements that constitute “forward-looking statements”
within the meaning of, and subject to the protections of, Section
27A of the Securities Act of 1933 and Section 21E of the Securities
and Exchange Act of 1934. Such statements, including but not
limited to those regarding the offering and the use of proceeds
therefrom, are based on currently available information and are
subject to various risks and uncertainties that could cause actual
results to differ materially from the Company’s present
expectations. These risks and uncertainties include, but are not
limited to, market conditions affecting the offering. Undue
reliance should not be placed on such forward-looking statements,
as such statements speak only as of the date on which they are made
and the Company undertakes no obligation to update such statements.
Additional information regarding these and other risks is contained
in the Company’s filings with the SEC.
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version on businesswire.com: http://www.businesswire.com/news/home/20170524006349/en/
Bank of the Ozarks, Inc.Media:Susan Blair,
501-978-2217orInvestor:Tim Hicks, 501-978-2336
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