NBC Capital Corp. in Starkville, Miss., said Thursday that it plans to raise about $46.8 million in a public offering.
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The $1.4 billion-asset company likely to use much of the money to fund its out-of-state expansion. In March it announced agreements to buy banks in Florida and Georgia for a total of $55 million; those deals are expected to close in the third quarter.
NBC said it would sell 2.4 million shares of its common stock at $19.50 a share. Keefe, Bruyette & Woods Inc. of New York is acting as the lead underwriter for the offering, which is scheduled to close Tuesday.
