Company sells common shares at $22.50 apiece through Sandler O'Neill
By Devika Patel
Knoxville, Tenn., Jan. 29 – Ameris Bancorp said it plans a $119.7 million private placement of stock. Sandler O'Neill + Partners, LP is the agent.
The company will sell 5.32 million common shares at $22.50 apiece. The purchase price is a 1.1% discount to the Jan. 28 closing share price of $22.75.
Settlement is expected Jan. 30.
Proceeds will be used for the company’s planned acquisitions of Merchants & Southern Banks of Florida, Inc. and eighteen Bank of America branches in North Florida and South Georgia.
The financial holding company is based in Moultrie, Ga.
| Issuer: | Ameris Bancorp
|
| Issue: | Common stock
|
| Amount: | $119.7 million
|
| Shares: | 5.32 million
|
| Price: | $22.50
|
| Warrants: | No
|
| Agent: | Sandler O'Neill + Partners, LP
|
| Pricing date: | Jan. 29
|
| Settlement date: | Jan. 30
|
| Stock symbol: | Nasdaq: ABCB
|
| Stock price: | $22.75 at close Jan. 28
|
| Market capitalization: | $658.62 million
|
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