Simpson Thacher represented the underwriters, led by Barclays Capital Inc., in the initial public offering of First Interstate BancSystem, Inc. of 11,500,000 shares of Class A common stock (including shares issued pursuant to the underwriters’ option which was fully exercised). The offering raised net proceeds of approximately $155.1 million and closed on March 29, 2010. First Interstate BancSystem’s Class A common stock is listed on the NASDAQ Stock Market under the symbol “FIBK.”
The First Interstate BancSystem IPO was the first initial public offering of a U.S. bank since August 2007.
First Interstate BancSystem, Inc. is a financial and bank holding company incorporated as a Montana corporation and headquartered in Billings, Montana.
The Simpson Thacher team included Lee Meyerson, Lesley Peng, Xiaohui Lin and Julia Gaffin (Capital Markets); Gary Rice and Mark Chorazak (Bank Regulatory); Jonathan Cantor and Danny Salinas (Tax); Jennifer Pepin and Stephanie Mash (Executive Compensation and Employee Benefits); Jennie Getsin (FINRA and Blue Sky); and paralegal Dara Kanowitz.