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Pinnacle Financial completes common stock offering

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Pinnacle Financial completes common stock offering

Nashville, Tenn.-based Pinnacle Financial Partners Inc. raised net proceeds of around $191.2 million after completing its previously announced underwritten public offering. An aggregate of 3,220,000 of the company's common shares were sold in the offering, including the 420,000 shares sold pursuant to the underwriting agreement.

Proceeds were earmarked for general corporate purposes, including providing capital for company unit Pinnacle Bank and for the pending acquisition of High Point, N.C.-based BNC Bancorp.

J.P. Morgan Securities LLC acted as the sole underwriter for the offering.