Deal sells 3.68 million shares at $26.00 each to fund long-term growth
By Devika Patel
Knoxville, Tenn., April 8 - Independent Bank Group, Inc. said the underwriters for its initial public offering of stock elected to exercise the deal's $12.48 million greenshoe in full for total proceeds of $95.68 million. The deal priced for $83.2 million with the $12.48 million greenshoe on April 3.
The company sold 3.68 million common shares at $26.00 per share. Of the shares, 480,000 were part of the fully exercised greenshoe.
Sandler O'Neill + Partners, LP was the bookrunner. Evercore Partners and Keefe, Bruyette & Woods were joint bookrunners.
Proceeds will be used to support the company's long-term growth by enhancing its capital ratios to permit growth initiatives and future strategic acquisitions and for general working capital and other corporate purposes.
The holding company for Independent Bank is based in McKinney, Texas.
| Issuer: | Independent Bank Group, Inc.
|
| Issue: | Common stock
|
| Amount: | $95.68 million (including $12.48 million greenshoe)
|
| Shares: | 3.68 million
|
| Price: | $26.00
|
| Warrants: | No
|
| Bookrunners: | Sandler O'Neill + Partners, LP, Evercore Partners and Keefe, Bruyette & Woods
|
| Pricing date: | April 3
|
| Settlement date: | April 8
|
| Stock symbol: | Nasdaq: IBTX
|
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