Red River Bancshares, Inc. Announces Pricing of Initial Public Offering
May 03 2019 - 8:00AM
Red River Bancshares, Inc. ("the Company"), a holding company that
operates through its wholly owned subsidiary, Red River Bank,
announced today the pricing of its initial public offering of
600,000 shares of its common stock at a public offering price of
$45.00 per share. Of the offered shares, 573,320 are being
offered by the Company, and 26,680 are being offered by certain
selling shareholders. The Company has also granted the
underwriters a 30-day option to purchase up to an additional 90,000
shares of its common stock. The Company’s common stock is
expected to begin trading on the Nasdaq Global Select Market under
the trading symbol “RRBI” on Friday, May 3, 2019.
The Company intends to use the net proceeds from this offering
for general corporate purposes and investment in Red River Bank,
which may include the support of its balance sheet growth,
repayment of the Company’s junior subordinated debentures, the
acquisition of other banks or financial institutions as
opportunities arise, and the maintenance of capital and liquidity
ratios. The Company will not receive any proceeds from the
sale of shares of common stock by the selling shareholders.
FIG Partners, LLC is acting as Lead Bookrunner, and Stephens
Inc. is acting as Joint Bookrunner for the offering. The offering
is being made only by means of a prospectus. Copies of the final
prospectus relating to the proposed offering, when available, may
be obtained from: FIG Partners, LLC, Attention: Greg Gersack, Head
of Capital Markets, 1475 Peachtree Street NE, Suite 800, Atlanta,
GA 30309, by calling (404) 601-7200 or by emailing
ggersack@figpartners.com or Stephens Inc., Attention: Prospectus
Department, 111 Center Street, Little Rock, AR 72201, by calling
(501) 377-2131 or by emailing prospectus@stephens.com.
A registration statement relating to these securities was
declared effective by the Securities and Exchange Commission (the
“SEC”) on May 2, 2019. 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 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.
About Red River Bancshares, Inc.
Red River Bancshares, Inc. is the bank holding company for Red
River Bank, a Louisiana state-chartered bank established in 1999
that provides a fully integrated suite of banking products and
services tailored to the needs of commercial and retail customers.
Red River Bank operates from a network of 23 banking centers
throughout the state and one loan production office in Covington,
Louisiana. Banking centers are located in the following
markets: Central Louisiana, which includes the Alexandria
metropolitan statistical area (“MSA”); Northwest Louisiana, which
includes the Shreveport-Bossier City MSA; Southeast Louisiana,
which includes the Baton Rouge MSA; and Southwest Louisiana, which
includes the Lake Charles MSA. As of December 31, 2018, Red River
Bank was the fifth largest financial institution headquartered in
Louisiana based on assets, with total assets of $1.86 billion.
Cautionary Statement Regarding Forward-Looking
Statements
This communication contains certain “forward-looking statements”
within the meaning of the U.S. federal securities laws. Such
statements are based upon various facts and derived utilizing
numerous important assumptions and are subject to known and unknown
risks, uncertainties and other factors that may cause actual
results, performance or achievements to be materially different
from any future results, performance or achievements expressed or
implied by such forward-looking statements. Statements
preceded by, followed by or that otherwise include the words
“believes,” “expects,” “anticipates,” “intends,” “projects,”
“estimates,” “plans” and similar expressions or future or
conditional verbs such as “will,” “should,” “would,” “may” and
“could” are generally forward-looking in nature and not historical
facts, although not all forward-looking statements include the
foregoing. Any forward-looking statements included herein
reflect the Company’s current views, and they involve certain risks
and uncertainties, including, among others, that the Company’s
business plans may change as circumstances warrant, the Company’s
common stock may not begin trading on the NASDAQ Global Select
Market as expected and the offering may not close as expected.
These risks should not be construed as exhaustive and should be
read together with the other cautionary statement included in the
Company’s registration statement on Form S-1 that it has filed with
the SEC and the final prospectus. Any forward-looking
statement speaks only as of the date on which it was initially
made. The Company undertakes no obligation to publicly update
or revise any forward-looking statement, whether as a result of new
information, future events, changed circumstances or otherwise,
unless required by law.
Media Contact: Evelyn Jones, Marketing
Directorejones@redriverbank.net
318-561-5903 - office318-664-1513 – cell
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