TUPELO, Miss., Jan. 24, 2012 /PRNewswire/ -- BancorpSouth, Inc.
(NYSE: BXS) (the "Company") today announced the closing of an
underwritten public offering of 10,952,381 shares of its common
stock at a price to the public of $10.50 per share. The gross proceeds from the
offering, before expenses, were $109.3
million.
The proceeds from the offering will be used by the Company for
general corporate purposes, including to maintain certain capital
levels and liquidity at the Company, potentially provide equity
capital to BancorpSouth Bank, fund growth either organically or
through acquisition of other financial institutions, insurance
agencies, or other businesses that are closely aligned to the
operations of the Company, and fund investments in its
subsidiaries.
Morgan Stanley & Co. LLC and Stifel, Nicolaus & Company,
Incorporated acted as the joint book-running managers in the
offering. Stephens Inc., Keefe, Bruyette & Woods, and Sandler
O'Neill + Partners, L.P. served as co-managers for the
offering.
The shares were issued pursuant to an effective registration
statement that was previously filed with the Securities and
Exchange Commission. A prospectus supplement relating to the
offering was filed with the Securities and Exchange Commission.
Copies of the prospectus supplement and the accompanying prospectus
may be obtained from Morgan Stanley & Co. LLC, Attention:
Prospectus Department, 180 Varick Street, 2nd Floor,
New York, New York 10014,
telephone: (866) 718-1649 and Stifel, Nicolaus & Company,
Incorporated, Attention: Prospectus Department, One South Street, 15th Floor, Baltimore, Maryland 21202, telephone: (443)
224-1988.
This press release does 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 jurisdiction
in which such an offer, solicitation, or sale would be unlawful
prior to registration or qualification under the securities laws of
any such jurisdiction.
About BancorpSouth
BancorpSouth, Inc. is a financial holding company headquartered
in Tupelo, Mississippi, with
$13.0 billion in assets. BancorpSouth
Bank, a wholly-owned subsidiary of BancorpSouth, Inc., operates 286
commercial banking, mortgage, insurance, trust and broker/dealer
locations in Alabama, Arkansas, Florida, Louisiana, Mississippi, Missouri, Tennessee and Texas. BancorpSouth Bank also operates an
insurance location in Illinois.
Forward-Looking Statements
This news release contains various forward-looking statements. A
discussion of various factors that could cause BancorpSouth's
actual results to differ materially from those expressed in such
forward-looking statements is included in BancorpSouth's filings
with the Securities and Exchange Commission, including the
prospectus supplement relating to this offering, its Annual Report
on Form 10-K for the year ended December 31,
2010, and Quarterly Reports on Form 10-Q for the periods
ended March 31, 2011, June 30, 2011 and September 30, 2011.
SOURCE BancorpSouth, Inc.