Cadence Bancorporation (NYSE: CADE) today announced the
commencement of a registered public secondary offering of
15,000,000 shares of Class A common stock, or approximately 17.9%
of Cadence Bancorporation’s outstanding Class A common stock. All
of the shares sold in the offering will be sold by Cadence Bancorp,
LLC.
The underwriters will have a 30-day option to purchase up to an
additional 2,250,000 shares of Class A common stock from Cadence
Bancorp, LLC. Cadence Bancorporation is not selling any shares of
Class A common stock and will not receive any proceeds from the
proposed offering. The proposed offering will not change the number
of shares of Class A common stock that are currently outstanding.
Upon completion of the offering, assuming that the underwriters’
option to purchase additional shares is not exercised, Cadence
Bancorp, LLC will own approximately 47.7% of Cadence
Bancorporation’s outstanding Class A common stock.
Goldman Sachs & Co. LLC, J.P. Morgan, Morgan Stanley, Keefe,
Bruyette & Woods, a Stifel Company, Sandler O’Neill + Partners,
L.P., Barclays and RBC Capital Markets are acting as joint
book-running managers. Stephens Inc. is acting as co-manager.
This offering will be made only by means of a prospectus. Copies
of the preliminary prospectus supplement and the related prospectus
relating to the proposed offering may be obtained by contacting (i)
Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200
West Street, New York, NY 10282, by phone at (866) 471‐2526 or by
email at prospectus-ny@ny.email.gs.com or (ii) J.P. Morgan, c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood,
New York 11717, or by calling toll‐free at (866) 803‐9204. Copies
of the preliminary prospectus supplement and the related prospectus
may also be obtained free of charge from the website of the U.S.
Securities and Exchange Commission (the “SEC”) at
http://www.sec.gov.
This press release 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 state or 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.
About Cadence Bancorporation
Cadence Bancorporation is a $11 billion in assets regional bank
holding company headquartered in Houston, Texas. Through its
affiliates, Cadence operates 65 locations in Alabama, Florida,
Texas, Mississippi and Tennessee, and provides corporations,
middle-market companies, small businesses and consumers with a full
range of innovative banking and financial solutions. Services and
products include commercial and business banking, treasury
management, specialized lending, commercial real estate, foreign
exchange, wealth management, investment and trust services,
financial planning, retirement plan management, business and
personal insurance, consumer banking, consumer loans, mortgages,
home equity lines and loans, and credit cards. Clients have access
to leading-edge online and mobile solutions, interactive teller
machines, and 56,000 ATMs. The Cadence team of 1,200 associates is
committed to exceeding customer expectations and helping their
clients succeed financially. Cadence Bank, N.A., Cadence Insurance,
and Linscomb & Williams are direct or indirect subsidiaries of
Cadence Bancorporation.
Cautionary Statement Regarding Forward-Looking
Information
This communication contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. These forward-looking statements reflect our current views
with respect to, among other things, the launch and completion of
the secondary offering of our Class A common stock. These
statements are often, but not always, made through the use of words
or phrases such as “may,” “should,” “could,” “predict,”
“potential,” “believe,” “will likely result,” “expect,” “continue,”
“will,” “anticipate,” “seek,” “estimate,” “intend,” “plan,”
“projection,” “would” and “outlook,” or the negative version of
those words or other comparable words of a future or
forward-looking nature. These forward-looking statements are not
historical facts, and are based on current expectations, estimates
and projections about our industry, management’s beliefs and
certain assumptions made by management, many of which, by their
nature, are inherently uncertain and beyond our control.
Accordingly, we caution you that any such forward-looking
statements are not guarantees of future performance and are subject
to risks, assumptions and uncertainties that are difficult to
predict. Although we believe that the expectations reflected in
these forward-looking statements are reasonable as of the date
made, actual results may prove to be materially different from the
results expressed or implied by the forward-looking statements. The
foregoing factors should not be construed as exhaustive and should
be read together with the other cautionary statements included in
the registration statement on Form S-3, including the preliminary
prospectus supplement and the related prospectus, we have filed
with the SEC. If one or more events related to these or other risks
or uncertainties materialize, or if our underlying assumptions
prove to be incorrect, actual results may differ materially from
what we anticipate. Accordingly, you should not place undue
reliance on any such forward-looking statements. Any
forward-looking statement speaks only as of the date on which it is
made, and we do not undertake any obligation to publicly update or
review any forward-looking statement, whether as a result of new
information, future developments or otherwise. New factors emerge
from time to time, and it is not possible for us to predict which
will arise. In addition, we cannot assess the impact of each factor
on our business or the extent to which any factor, or combination
of factors, may cause actual results to differ materially from
those contained in any forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20180521006064/en/
Cadence
BancorporationMedia contact:Danielle Kernell,
713-871-4051danielle.kernell@cadencebank.comorInvestor relations
contact:Valerie Toalson, 713-871-4103 or
800-698-7878vtoalson@cadencebancorporation.com
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