It's official -- a registration statement relating to shares of Class A common stock of First Interstate has been declared effective by the U.S. Securities and Exchange Commission.
First Interstate BancSystem, Inc. headquartered in Billings, MT announced late Tuesday the pricing of its initial public offering of 10-million shares of Class A common stock at a price of $14.50 per share. The stock is expected to begin trading on the NASDAQ Stock Market under the ticker symbol FIBK beginning today.
First Interstate has granted the underwriters a 30-day option to purchase up to an additional 1.5 million shares to cover over-allotments, if any. That offering is expected to take place on or around March 29th.
Acting as the sole book-runner is Barclays Capital. D.A. Davidson & Co. is joint lead manager; Keefe, Bruyette & Woods and Sandler O'Neill + Partners, L.P. are acting as co-managers. The offering will be made only by means of a prospectus.