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Enterprise Financial Services Corp Announces Exercise of Over-Allotment Option in Subordinated Notes Offering
ST. LOUIS--(BUSINESS WIRE)-- Enterprise Financial Services Corp (Nasdaq: EFSC) (the “Company”), the holding company of Enterprise Bank & Trust (the “Bank”),
About this update from Enterprise Financial Services Corporation
[{"type":"text","content":" ST. LOUIS--(BUSINESS WIRE)--\nEnterprise Financial Services Corp (Nasdaq: EFSC) (the “Company”), the holding company of Enterprise Bank & Trust (the “Bank”), today announced that the underwriters of its previously-announced public offering of 5.75% Fixed-to-Floating Rate Subordinated Notes due 2030 (the “Notes”) have fully exercised their option to purchase an additional $8.25 million aggregate principal amount of Notes at the public offering price of 100% of the principal amount of the Notes, less underwriting discounts and commissions. After giving effect to the full exercise of the over-allotment exercise, the aggregate principal amount of Notes sold by the Company in the public offering increased to $63.25 million.\n\n\nThe offering, including the exercise of the over-allotment exercise, is expected to close on May 21, 2020, subject to the satisfaction of customary closing conditions.\n\n\nPiper Sandler & Co. is acting as the book-running manager and U.S. Bancorp Investments, Inc. is acting as co-manager for the offering.\n\n\nThe Notes were offered by the Company by means of a prospectus supplement and accompanying base prospectus. The Company has filed with the U.S. Securities and Exchange Commission (“SEC”) a registration statement (File No. 333-237612) and a final prospectus supplement to the base prospectus contained in the registration statement for the Notes to which this communication relates. Prospective investors should read the prospectus supplement and base prospectus in the registration statement and other documents the Company has filed or will file with the SEC for more complete information about the Company and the offering.\n\n\nCopies of these documents, when available, can be obtained for free by visiting the SEC’s website at http://www.sec.gov or may be obtained by contacting Piper Sandler & Co. by email at [email protected].\n\n\nThis press release shall not constitute an offer to sell or a solicitation of an offer to buy the Notes, nor shall there be any sale of the Notes in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offering of the Notes is being made only by means of a written prospectus meeting the requirements of Section 10 of the Securities Act of 1...