Greene County Bancshares Agrees to Sell 1,833,043 Shares of Common Stock to Fund Clarksville Branch Purchase and Future Growth
23 Septiembre 2005 - 6:30AM
Business Wire
Greene County Bancshares, Inc. (NASDAQ: GCBS), announced today that
it has agreed to sell 1,833,043 shares of its common stock at
$25.75 per share in a public underwritten offering. Keefe, Bruyette
& Woods acted as the bookrunning lead manager for the offering
and Howe Barnes Investments, Inc. and SunTrust Robinson Humphrey
acted as co-managers for the offering. Greene County Bancshares has
granted the underwriters a 30-day option to purchase up to an
additional 274,957 shares of common stock to cover over-allotments,
if any. The Company will contribute approximately $35 million of
the net proceeds of the offering to Greene County Bank to provide
capital for its acquisition of five branches in Clarksville,
Tennessee from Old National Bank. The remainder of the net proceeds
will be used for general corporate purposes, including among other
things, to support Greene County Bank's internal growth and capital
needs. A registration statement relating to these securities has
been filed with the Securities and Exchange Commission and has been
declared effective. This communication shall not constitute an
offer to sell or the solicitation of an offer to buy nor shall
there be any sale of these securities in any jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
jurisdiction. Copies of the prospectus may be obtained from the
Keefe, Bruyette & Woods at 787 Seventh Avenue, Fourth Floor,
New York, New York 10019, Attention: Syndicate Department. An
electronic copy of the prospectus will also be available on the
Securities and Exchange Commission's website at www.sec.gov.
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