Community bank Veritex dips after pricing $150 mln stock offering

Veritex Holdings

04/03/2022 13:11

** Veritex Holdings  VBTX.O  shares down 1.5% at $39
premarket after co raises equity
    ** Parent of Texas-based Veritex Community Bank late Thurs
sold ~3.9 mln shares at $38, 4% discount to stock's last sale
 urn:newsml:reuters.com:*:nGNX5x67V8
    ** Co plans to use net offering proceeds to support
continued growth and for future strategic acquisitions
    ** Before the bell Thurs, VBTX said it agreed to acquire
interLINK, tech-enabled core deposit gathering platform, in deal
valued at $91 mln  urn:newsml:reuters.com:*:nGNX3ChM4y
    ** Under terms of agreement, VBTX will pay $3 mln in cash
and issue approx 2.1 mln shares to interLINK owner StoneCastle
Partners
    ** VBTX's shares have risen 32% over past year and have ~$2
bln market cap, per Refinitiv data
    ** Keefe, Bruyette & Woods and Goldman Sachs acted as jt
bookrunners for offering, joined by Raymond James

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))