» Subscribe Today!
More of what you want to know.
The Daily News
X

Forgot your password?
Skip Navigation LinksHome >
VOL. 127 | NO. 31 | Wednesday, February 15, 2012

Pricing Announced for Raymond James Stock Offering

By Andy Meek

Print | Front Page | Email this story | Email reporter | Comments ()

Raymond James Financial Inc., the soon-to-be new parent of Memphis-based Morgan Keegan & Co. Inc., has announced the pricing of its public offering of 10.5 million shares of common stock at $34 per share.

Net proceeds of the public offering will be used to pay part of the purchase price of Raymond James’ acquisition of Morgan Keegan, which was announced last month. In a regulatory filing Tuesday, the Florida-based company said it expects the deal to close on or around April 2.

The remaining portion of the deal’s purchase price will be paid for using cash on hand and the proceeds of a contemplated public debt offering and/or borrowings under a bridge financing facility.

J.P. Morgan Securities LLC, Citigroup and Raymond James & Associates, Inc. will act as joint-book running managers for the offering. BB&T Capital Markets and BNY Mellon Capital Markets, LLC will act as co-managers.

Raymond James announced last month it’s buying the Memphis financial firm for $930 million.

Sign-Up For Our Free Email Edition
Get the news first with our daily email


 
Blog Get more from The Daily News
Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 72 368 16,413
MORTGAGES 66 422 21,432
FORECLOSURE NOTICES 15 76 4,266
BUILDING PERMITS 176 877 39,378
BANKRUPTCIES 60 294 15,542
BUSINESS LICENSES 20 98 5,491
UTILITY CONNECTIONS 69 423 23,573
MARRIAGE LICENSES 17 95 5,035

Weekly Edition

Issues | About

The Memphis News: Business, politics, and the public interest.