Cadence Bancorporation Announces Pricing of Secondary Offering of Class A Common Stock by Cadence Bancorp, LLC
July 24 2018 - 11:46PM
Business Wire
Cadence Bancorporation (NYSE: CADE) today announced the pricing
of its previously announced registered public secondary offering.
Cadence Bancorp, LLC will sell 12,500,000 shares of Cadence
Bancorporation’s outstanding Class A common stock, or approximately
14.9% of Cadence Bancorporation’s outstanding Class A common stock,
at a public offering price of $28.40 per share and a total offering
size of $355 million, before deducting underwriting discounts and
commissions and estimated offering expenses. All of the shares sold
in the offering will be sold by Cadence Bancorp, LLC.
The offering is expected to close on or about July 26, 2018,
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 proposed
offering. The proposed offering will not change the number of
shares of Class A common stock that are currently outstanding. Upon
completion of the offering, Cadence Bancorp, LLC will own
approximately 25.9% of Cadence Bancorporation’s outstanding Class A
common stock.
Goldman Sachs & Co. LLC is acting as sole underwriter in the
offering.
This offering will be made only by means of a prospectus. Copies
of the final prospectus supplement, when available, and the related
prospectus relating to the proposed offering may be obtained by
contacting Goldman Sachs & Co. LLC, Attention: Prospectus
Department, 200 West Street, New York, NY 10282, by phone at
1-866-471-2526 or by email at Prospectus-ny@ny.email.gs.com. Copies
of the final prospectus supplement, when available, and the related
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.
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 an $11.3 billion in assets regional
bank holding company headquartered in Houston, Texas. Through its
affiliates, Cadence operates 65 locations in Alabama, Florida,
Texas, Mississippi and Tennessee, 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 56,000 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 within
the meaning of the Private Securities Litigation Reform Act of
1995. These forward-looking statements reflect our current views
with respect to, among other things, the pricing and completion 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-3, including the prospectus
supplement and the related prospectus, 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: https://www.businesswire.com/news/home/20180724006049/en/
Cadence
BancorporationMedia contact:Danielle Kernell,
713-871-4051danielle.kernell@cadencebank.comorInvestor relations
contact:Valerie Toalson, 713-871-4103 or
800-698-7878vtoalson@cadencebancorporation.com
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