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Origin Bancorp prices IPO


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Origin Bancorp prices IPO

Origin Bancorp Inc. priced its initial public offering of 3,636,176 common shares at a price of $34 per share, according to a May 8 press release. Of the total, 1,136,176 shares are being sold by certain shareholders.

In addition, the company has granted the underwriters a 30-day option to purchase up to an additional 545,426 shares.

Origin plans to use the net proceeds from the offering to redeem all of its outstanding Small Business Lending Fund preferred stock, as well as for general corporate purposes.

The Ruston, La.-based company's common stock is expected to start trading on the Nasdaq Global Select Market on May 9 under the symbol OBNK.

Stephens Inc. and Raymond James & Associates Inc. are acting as joint book runners for the offering, while Keefe Bruyette & Woods Inc. and Sandler O'Neill & Partners LP are acting as co-managers.