Cadence Bancorp Offers $230 Million in Shares to Public

February 13, 2018

Cadence Bancorp, LLC completed the sale of 9,200,000 shares of Class A common stock of Cadence Bancorporation at a price to the public of $25.00 per share, for a total offering size of $230,000,000. S&C represented the underwriters in the offering, led by Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Keefe, Bruyette & Woods, Inc., and Sandler O'Neill + Partners, L.P., as joint bookrunning managers. This offering was the second follow-on offering of Cadence Bancorporation since its initial public offering in April 2017.

Cadence Bancorporation is a bank holding company headquartered in Houston, Texas, and is the parent company of Cadence Bank, N.A. Cadence is a growth-oriented, middle-market focused commercial relationship bank providing a broad range of banking and wealth management services to businesses, high-net-worth individuals and retail customers through a network of 65 locations in Alabama, Florida, Mississippi, Tennessee and Texas. Formed in 2009, Cadence secured $1.0 billion of capital commitments in 2010 and built its franchise by acquiring Cadence Bank, N.A. in March 2011, the franchise of Superior Bank in April 2011 and Encore Bank, N.A. in July 2012. Prior to Cadence Bancorporation's initial public offering, all of the issued and outstanding shares of its Class A common stock were held by Cadence Bancorp, LLC. The transaction reduces Cadence Bancorp, LLC's ownership of Cadence Bancorporation to approximately 65.6 percent.

The S&C team was led by Catherine Clarkin and Robert Downes, along with Katherine McGavin, Louis Argentieri and Danyang Zhao. Benjamin Weiner advised on bank regulatory matters. Jeffrey Hochberg, Saul Brander and Lauren Citrome advised on tax matters. Marc Treviño and Jeannette Bander advised on executive compensation and benefits matters. Tracey Russell advised on FINRA-related matters.