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Renasant Corp. prices common share offering

Renasant Corp. priced a public offering of 1.9 million common shares at $41.50 per share for gross proceeds of $78.9 million.

Net proceeds are expected to be $75.3 million after commissions and underwriting discounts, according to a press release. A prospectus supplement filed Dec. 15 stated that net proceeds would be $74.8 million after underwriting discounts and estimated expenses, including legal and professional fees.

Proceeds will be used for general corporate purposes.

The company originally announced an offering amount of approximately $65 million.

Underwriters have a 30-day option to purchase an additional 285,000 shares. Keefe Bruyette & Woods, a Stifel company, and Sandler O'Neill & Partners LP serve as joint book-running managers. Raymond James & Associates Inc. and Stephens Inc. are co-managers.

The Tupelo, Miss.-based company expects to close the transaction on or about Dec. 19.

Renasant Corp. is the parent of Renasant Bank.