HBT Financial Announces Pricing of Initial Public Offering
October 10 2019 - 7:26PM
HBT Financial, Inc. (“HBT”), the holding company for Heartland Bank
and Trust Company (“Heartland Bank”) and State Bank of Lincoln
(“Lincoln Bank”), today announced that it has priced the
underwritten initial public offering of 8,300,000 shares of its
common stock at a price to the public of $16.00 per share. The
underwriters will have a 30-day option to purchase an additional
1,245,000 shares from HBT at the initial public offering price,
less underwriting discounts and commissions. The shares are
expected to begin trading on the Nasdaq Global Select Market
beginning on October 11, 2019 and will trade under the symbol
“HBT.” The offering is expected to close on October 16, 2019.
HBT expects to receive proceeds from this
offering, after deducting estimated underwriting discounts and
commissions and offering expenses payable by the Company, of
approximately $121.3 million, or approximately $139.8 million if
the underwriters exercise their option to purchase additional
shares in full. HBT intends to use the net proceeds from this
offering, together with dividend payments from Heartland Bank and
Lincoln Bank, to fund a $170.0 million distribution to its existing
stockholders.
Keefe, Bruyette & Woods, a Stifel Company
and J.P. Morgan are acting as joint book-running managers for the
offering. Raymond James, Sandler O’Neill + Partners, L.P. and D.A.
Davidson & Co. are acting as co-managers.
This offering will be made only by means of a
prospectus. Copies of the prospectus relating to the offering may
be obtained by contacting Keefe, Bruyette & Woods, Inc., 787
Seventh Ave., 4th Floor, New York, New York 10019, Attention:
Equity Capital Markets, or by calling toll free (800) 966-1559 or
by email at kbwsyndicatedesk@kbw.com; or J.P. Morgan Securities
LLC, Attention: Broadridge Financial Solutions, 1155 Long Island
Avenue, Edgewood, New York 11717, or by calling toll free (866)
803-9204.
A registration statement relating to these
securities was declared effective by the Securities and Exchange
Commission today. 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.
About HBT Financial, Inc.
HBT Financial, Inc. is headquartered in Bloomington, Illinois
and is the holding company for Heartland Bank and Trust Company and
State Bank of Lincoln. The banks provide a comprehensive suite of
business, commercial, wealth management and retail banking
products and services to businesses, families and local governments
throughout Central and Northeastern Illinois through 64 branches.
As of June 30, 2019, HBT had total assets of $3.2 billion, loans
held for investment of $2.2 billion, total deposits of $2.8 billion
and stockholders’ equity of $340 million. HBT is a longstanding
Central Illinois company, with banking roots that can be traced
back nearly 100 years.
Contact Information
Diane H. Lanier dlanier@hbtbank.com
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