Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Thu, August 11, 2:53 PM
|This Slide: #220 of 582|
Slide #220. MidSouth Bancorp, Inc. — Preferred Stock Offering
MidSouth Bancorp, Inc. (MSL)
Date of Pricing:
Price Per Share:
Preferred Stock Offering Details:
MidSouth Bancorp, Inc. (the "Company") (NYSE:MSL) announced today that it has commenced a public offering of $50.0 million of its common stock through a firm commitment underwritten offering. Subject to receipt of required regulatory approvals, the Company intends to use approximately $32.0 million of the net proceeds of the offering to redeem all of its outstanding Series B Preferred Stock issued to the U.S. Treasury as a result of its participation in the Small Business Lending Fund. The Company intends to use the remaining portion of the net proceeds from this offering to enhance its capital structure, to fund future organic growth, for working capital, and other general corporate purposes. -updated 6/8- MidSouth Bancorp, Inc. (the "Company") (NYSE: MSL) announced today that it has priced an underwritten public offering of 4,583,334 shares of common stock at a price of $12.00 per share, for gross proceeds of approximately $55.0 million. The offering was increased from the previously announced amount of approximately $50.0 million of gross proceeds. Sandler O'Neill + Partners, L.P. is serving as the sole underwriter for the offering. The Company has granted the underwriter a 30-day option to purchase up to an additional 687,500 shares of common stock from the Company at the offering price.
MidSouth Bancorp is a bank holding company. Through its subsidiary, MidSouth Bank, N.A. (the Bank), Co. provides commercial and consumer loan and deposit services. Deposit products and services provided by the Bank include interest-bearing and noninterest-bearing checking accounts, investment accounts, cash management services, and electronic banking services, including remote deposit capturing services, internet banking, and debit and credit cards. Loans provided by the Bank include commercial and industrial loans, commercial real estate loans (both owner-occupied and non-owner occupied), other loans secured by real estate and consumer loans. Co. maintains its own in-house call center.
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Strong Buy (4.00 out of 4)
(ranked higher than approx. 100% of all stocks covered)
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