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Investing.com -- Simmons First National Corporation (NASDAQ:SFNC) stock dropped 5.4% following the announcement of a public offering of its Class A common stock.
The Pine Bluff, Arkansas-based banking company revealed plans to offer an unspecified number of shares, according to a prospectus supplement filed with the Securities and Exchange Commission. The offering will be managed by joint book-running managers Stephens Inc., Keefe, Bruyette & Woods, and Morgan Stanley (NYSE:MS).
The company’s last reported closing price on the Nasdaq Global Select Market was $20.08 per share on July 21, 2025. As part of the offering, Simmons First National has granted the underwriters an option to purchase additional shares within 30 days of the prospectus date.
The banking institution has also established a directed share program, reserving a portion of the offered shares for sale to certain executive officers and directors at the public offering price.
Proceeds from the stock sale were not specified in the filing, nor was the intended use of the funds. The shares are expected to be delivered through The Depository Trust Company facilities.
Simmons First National emphasized in its filing that the shares are not savings accounts or deposits and are not insured by the Federal Deposit Insurance Corporation or any other governmental agency.
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