Equity Bancshares, Inc. has announced the pricing of its underwritten public offering of 1,797,600 shares of its class A common stock at a public offering price of $44.50 per share, totaling $80 million. The company has also granted the underwriters a 30-day option to purchase up to an additional 269,640 shares of common stock at the public offering price, less underwriting discounts.
The net proceeds from the offering will be used for various purposes, including supporting continued growth, potential repayment of existing subordinated debt, and other general corporate uses. The company intends to close the offering on or about December 4, 2024.
Equity Bancshares, Inc. is the holding company for Equity Bank, providing a range of financial solutions such as commercial loans, consumer banking, mortgage loans, trust and wealth management services, and treasury management services.
In the previous period, the company reported [include specific metrics and changes from the previous period such as revenue, net income, or EBITDA] and showed a [significant increase/decrease] compared to the current offering. As a result of these announcements, the company's shares have moved -2.3% on the market, and are now trading at a price of $47.61. Check out the company's full 8-K submission here.
