Simmons First National Corp. of Pine Bluff announced Tuesday that it had commenced an underwritten public offering of approximately $65 million worth of common stock.
The underwriters, led by Stephens Inc., Stifel Nocolaus & Co. and Raymond James & Associates, may also purchase up to 15 percent more stock to cover any over-allotments.
The company said it intends to use the proceeds of the stock sale "for general corporate purposes" and for possible acquisitions of "other financial services businesses," including failing banks being sold by the Federal Deposit Insurance Corp.
Simmons has followed Home BancShares Inc. of Conway in search of new capital for possible acquisitions. HBI's offering in September, intially announced as $90 million, ultimately netted about $107 million.
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