FB Financial Corp. closed the secondary public offering in which James Ayers sold 3.2 million common shares to the underwriters at $41.25 apiece, less the underwriting discount.
The Nashville, Tenn.-based company did not receive any proceeds from the sale of the underwritten shares.
The underwriters also fully exercised their overallotment option to buy up to an additional 480,000 common shares. FB Financial will not receive any proceeds from the sale of the option shares that is currently anticipated to close May 31.
J.P. Morgan and Stephens Inc. served as joint book-running managers and as underwriters of the secondary offering.
