Enterprise Financial Services Corp. in St. Louis said it raised about $35 million in a public offering completed Tuesday.

The $2.9 billion-asset company said in a press release late Tuesday that investor demand allowed it to sell an additional 2.7 million shares.

At $12.75 a share, the offering raised nearly $5 million more than what Enterprise had expected.

Enterprise said that it plans to use the net proceeds from the offering to strengthen its capital position and support growth, including acquisitions.

The company had a total risk-based capital ratio of 14.3% at March 31.

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