Hancock Holding in Gulfport, Miss., is selling stock to support potential acquisitions.
The $23 billion-asset company said in a press release Monday that it will sell 5 million shares of common stock. Hancock said it could sell an additional 750,000 shares if there is enough demand.
The offering could fetch up to $253 million, based on the company's closing stock price Monday. The sale is expected to close Friday.
Hancock said it plans to use the net proceeds for general corporate purposes, including potential strategic acquisitions and organic growth.
