Red River in Louisiana plans $30M initial public offering
Red River Bancshares in Alexandria, La., is planning a $30 million initial public offering.
The $1.9 billion-asset company disclosed its plans in a registration statement filed Wednesday. The company did not disclose how many shares will be sold or when it will conduct the IPO.
Red River said it will use its share of the net proceeds for general corporate purposes that may include supporting balance sheet growth, repaying subordinated debt and bank acquisitions.
Several investors will also sell shares as part of the offering.
Red River, which opened in 1998, has raised $40 million through five private offerings. Proceeds from those offerings have been used to buy two banks and expand into nearby markets.
FIG Partners will serve as the offering's lead bookrunner. Stephens will serve as joint bookrunner.