BATON ROUGE, La., March 22, 2017 (GLOBE NEWSWIRE) -- Investar Holding Corporation (“Investar”) (NASDAQ:ISTR), the parent holding company of Investar Bank, today announced the closing of its underwritten public offering of 1,623,530 shares of its common stock at a price to the public of $21.25 per share, including 211,765 shares of common stock issued upon the exercise of the underwriters’ purchase option.
Sandler O'Neill + Partners, L.P. served as the sole book-running manager for the offering, Raymond James & Associates, Inc. served as lead manager, and Hovde Group, LLC and Piper Jaffray served as co-managers.
Investar expects to use the net proceeds from the common stock offering for general corporate purposes, including investments in Investar Bank and potential strategic acquisitions.
This press release will not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sale of these securities in any state 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. A registration statement relating to these securities has been filed with the Securities and Exchange Commission and is effective, and the offering is being made only by means of a prospectus. A written prospectus for this offering may be obtained without charge by visiting the SEC's website at www.sec.gov, or may be obtained from Sandler O'Neill + Partners, L.P., 1251 Avenue of the Americas, 6th Floor, New York, New York 10020, Attn: Syndicate Operations, Telephone Number: 1-866-805-4128.
Investar Holding Corporation, headquartered in Baton Rouge, Louisiana, provides full banking services, excluding trust services, through its wholly-owned banking subsidiary, Investar Bank, a state chartered bank. Investar's primary market is South Louisiana and it currently operates 10 full service banking offices located throughout its market. At December 31, 2016, Investar had 152 full-time equivalent employees.
This press release may include forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based upon current expectations and assumptions about our business that are subject to a variety of risks and uncertainties that could cause the actual results to differ materially from those described in this press release. You should not rely on forward-looking statements as a prediction of future events.
Additional information regarding factors that could cause actual results to differ materially from those discussed in any forward-looking statements are described in reports and registration statements we file with the SEC, including our Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, copies of which are available on Investar's internet website http://www.investarbank.com.
Investar disclaims any obligation to update any forward-looking statements or any changes in events, conditions or circumstances upon which any forward-looking statement may be based except as required by law.
Contact: Investar Holding Corporation Chris Hufft Chief Financial Officer (225) 227-2215 Chris.Hufft@investarbank.com
Source:Investar Holding Corporation