Cadence Bancorporation (NYSE: CADE) today announced that the
underwriters of its previously announced secondary offering have
exercised in full their option to purchase 1,425,000 additional
shares of Cadence Bancorporation Class A common stock from Cadence
Bancorp, LLC. Upon completion of the purchase by the underwriters
of the additional shares, Cadence Bancorp, LLC will own
approximately 76.6% of Cadence Bancorporation’s outstanding Class A
common stock.
The purchase by the underwriters of the additional shares is
expected to close on or about November 17, 2017, subject to
customary closing conditions.
Cadence Bancorporation is not selling any shares of Class A
common stock and will not receive any proceeds from the purchase of
the additional shares by the underwriters. The purchase of the
additional shares by the underwriters will not change the number of
shares of Class A common stock that are currently outstanding.
Goldman Sachs & Co. LLC and J.P. Morgan are acting as joint
lead book-running managers. Baird, Keefe, Bruyette & Woods, a
Stifel Company, Raymond James, RBC Capital Markets, Sandler O’Neill
+ Partners, L.P., Stephens Inc. and PWP Securities are acting as
co-managers.
This offering will be made only by means of a prospectus. Copies
of the final prospectus relating to the proposed offering may be
obtained by contacting (i) Goldman Sachs & Co. LLC, Attention:
Prospectus Department, 200 West Street, New York, NY 10282, by
phone at (866) 471‐2526 or by email at
prospectusgroup-ny@ny.email.gs.com or (ii) J.P. Morgan, c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood,
New York 11717, or by calling toll‐free at (866) 803‐9204. Copies
of the registration statement and final prospectus may also be
obtained free of charge from the website of the U.S. Securities and
Exchange Commission (the “SEC”) at http://www.sec.gov.
The SEC declared the registration statement relating to these
securities effective on November 8, 2017. 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 Cadence Bancorporation
Cadence Bancorporation is a $10.5 billion in assets regional
bank holding company headquartered in Houston, Texas. Through its
affiliates, Cadence operates 65 locations in Alabama, Florida,
Mississippi, Tennessee and Texas as of September 30, 2017, and
provides corporations, middle-market companies, small businesses
and consumers with a full range of innovative banking and financial
solutions. Services and products include commercial and business
banking, treasury management, specialized lending, commercial real
estate, foreign exchange, wealth management, investment and trust
services, financial planning, retirement plan management, business
and personal insurance, consumer banking, consumer loans,
mortgages, home equity lines and loans, and credit cards. Clients
have access to leading-edge online and mobile solutions,
interactive teller machines, and over 55,000 ATMs. The Cadence team
of 1,200 associates is committed to exceeding customer expectations
and helping their clients succeed financially. Cadence Bank, N.A.,
Cadence Insurance, and Linscomb & Williams are direct or
indirect subsidiaries of Cadence Bancorporation.
Cautionary Statement Regarding Forward-Looking
Information
This communication contains forward-looking statements. These
forward-looking statements reflect our current views with respect
to, among other things, the pricing and closing of the secondary
offering of our Class A common stock. These statements are often,
but not always, made through the use of words or phrases such as
“may,” “should,” “could,” “predict,” “potential,” “believe,” “will
likely result,” “expect,” “continue,” “will,” “anticipate,” “seek,”
“estimate,” “intend,” “plan,” “projection,” “would” and “outlook,”
or the negative version of those words or other comparable words of
a future or forward-looking nature. These forward-looking
statements are not historical facts, and are based on current
expectations, estimates and projections about our industry,
management’s beliefs and certain assumptions made by management,
many of which, by their nature, are inherently uncertain and beyond
our control. Accordingly, we caution you that any such
forward-looking statements are not guarantees of future performance
and are subject to risks, assumptions and uncertainties that are
difficult to predict. Although we believe that the expectations
reflected in these forward-looking statements are reasonable as of
the date made, actual results may prove to be materially different
from the results expressed or implied by the forward-looking
statements. The foregoing factors should not be construed as
exhaustive and should be read together with the other cautionary
statements included in the registration statement on Form S-1,
including the preliminary and final prospectuses, which we have
filed with the SEC. If one or more events related to these or other
risks or uncertainties materialize, or if our underlying
assumptions prove to be incorrect, actual results may differ
materially from what we anticipate. Accordingly, you should not
place undue reliance on any such forward-looking statements. Any
forward-looking statement speaks only as of the date on which it is
made, and we do not undertake any obligation to publicly update or
review any forward-looking statement, whether as a result of new
information, future developments or otherwise. New factors emerge
from time to time, and it is not possible for us to predict which
will arise. In addition, we cannot assess the impact of each factor
on our business or the extent to which any factor, or combination
of factors, may cause actual results to differ materially from
those contained in any forward-looking statements.
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version on businesswire.com: http://www.businesswire.com/news/home/20171115006038/en/
Cadence
BancorporationMedia:Danielle Kernell,
713-871-4051danielle.kernell@cadencebank.comorInvestor
relations:Valerie Toalson, 713-871-4103 or
800-698-7878vtoalson@cadencebancorporation.com
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