The Firm is representing IBERIABANK Corporation (NASDAQ: IBKC) (“IBERIABANK”) in connection with its acquisition of Sabadell United Bank, N.A. (“Sabadell United”) from Banco de Sabadell, S.A. in a stock and cash transaction valued at $1.025 billion. Completion of the acquisition is subject to customary closing conditions, including the receipt of regulatory approval, and is expected to close in the second half of 2017.
The Firm is also representing IBERIABANK in connection with a registered offering of 6,100,000 shares of its common stock at a public offering price of $83 per share, resulting in gross proceeds to IBERIABANK of $506.3 million. IBERIABANK also granted the underwriters a 30-day option to purchase up to an additional 610,000 shares of common stock. IBERIABANK intends to use the proceeds of the offering to pay a portion of the purchase price for Sabadell United.
IBERIABANK is a financial holding company with 304 combined locations, including 199 bank branch offices and three loan production offices in Louisiana, Arkansas, Alabama, Tennessee, Texas, Florida, and Georgia, 24 title insurance offices in Arkansas and Louisiana, and mortgage representatives in 69 locations in 10 states. IBERIABANK has eight wealth management locations in four states and one IBERIA Capital Partners L.L.C. office in Louisiana.
The Simpson Thacher Team includes Lee Meyerson, Elizabeth Cooper, Matthew Rogers and Alexander Lebow (M&A); Andrew Keller, John O’Connell and Jennison Smith (Capital Markets); Jonathan Goldstein and Jodi Schneider (Tax); Gregory Grogan and Alina Grinman (Executive Compensation and Employee Benefits); Keith Noreika, Mark Chorazak and Spencer Sloan (Bank Regulatory); Lori Lesser and Genevieve Dorment (Intellectual Property); and Sasan Mehrara and Krista McManus (Real Estate).