Iberiabank in Lafayette, La., is planning to raise at least $255 million from a common stock offering.
The $20.8 billion-asset company said in a press release Friday that it plans to sell about 3.1 million shares of stock at $81.50 each. The underwriters are allowed to sell another 468,750 shares if there is enough demand. The offering is set to close on Wednesday.
The net proceeds are expected to be used for general corporate purposes, including organic growth and acquisitions.
Keefe, Bruyette & Woods and Goldman Sachs are the joint book-running lead managers. Citigroup, Sandler O'Neill, Stephens Inc. and UBS Investment Bank are the co-managers.
