Cadence Bancorp LLC on May 25 completed a secondary offering of 18 million class A common shares of Cadence Bancorp. at $28.00 apiece, less underwriting discounts and commissions.
The underwriters also fully exercised the overallotment option to buy up to an additional 2.7 million shares.
Upon completion of the offering and the exercise of the option, Cadence Bancorp LLC held about 40.9% of the issued and outstanding class A common shares, down from 65.6% immediately before the offering was completed.
The underwriters were Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Keefe Bruyette & Woods Inc., Sandler O'Neill & Partners LP, Barclays Capital Inc., RBC Capital Markets LLC and Stephens Inc.
