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Cadence Bancorp upsizes, prices secondary common stock offering

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Cadence Bancorp upsizes, prices secondary common stock offering

Cadence Bancorp. has upsized and priced its previously announced registered public secondary offering.

Cadence Bancorp LLC will sell 18 million shares, or approximately 21.5%, of Cadence Bancorp.'s outstanding class A common stock, at a public offering price of $28.00 per share and a total offering size of $504 million.

The offering, expected to close on or about May 25, was upsized from the 15 million shares announced earlier.

The underwriters have a 30-day option to purchase up to an additional 2.7 million shares from Cadence Bancorp. LLC.

Goldman Sachs & Co. LLC, J.P. Morgan, Morgan Stanley, Keefe Bruyette & Woods, Sandler O'Neill & Partners LP, Barclays and RBC Capital Markets are acting as joint book-running managers for the offering. Stephens Inc. is acting as the co-manager.