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South Plains Financial IPO underwriters fully exercise overallotment option

Underwriters of Lubbock, Texas-based South Plains Financial Inc.'s IPO fully exercised their overallotment option to purchase an additional 507,000 common shares.

In its IPO, South Plains Financial sold 3,380,000 common shares at $17.50 apiece. Its shares began to trade on the Nasdaq Global Select Market on May 9 under the symbol SPFI.

Keefe Bruyette & Woods and Sandler O'Neill & Partners LP were the joint book-running managers, and Fenimore Kay Harrison & Ford LLP represented the underwriters.