Cadence Bancorporation Launches Initial Public Offering of Class A Common Stock

HOUSTON--()--Cadence Bancorporation today announced the launch of its initial public offering of shares of Class A common stock. Cadence is offering 7,500,000 shares. The initial public offering price is currently estimated to be between $19.00 and $21.00 per share. The Class A common stock is expected to trade on the New York Stock Exchange under the symbol “CADE.”

The underwriters will have a 30-day option to purchase up to an additional 1,125,000 shares of Class A common stock. Cadence Bancorporation intends to use its net proceeds from the offering to support its organic growth and for general corporate purposes.

Goldman Sachs & Co. and J.P. Morgan are acting as joint lead book-running managers, and Sandler O’Neill + Partners, L.P. and Keefe, Bruyette & Woods, a Stifel Company are acting as joint passive book-runners. Baird, Raymond James, Stephens Inc., SunTrust Robinson Humphrey and Tudor, Pickering, Holt & Co. are acting as co-managers.

This offering will be made only by means of a prospectus. Copies of the preliminary prospectus relating to the proposed offering may be obtained by contacting (i) Goldman, Sachs & Co., Attention: Prospectus Department, 200 West Street, New York, NY 10282, by phone at (866) 471‐2526 or by email at prospectusny@ny.email.gs.com or (ii) J.P. Morgan, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by calling toll‐free at (866) 803‐9204.

A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission (the “SEC”) but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Cadence Bancorporation

Cadence Bancorporation is a $9.5 billion in assets regional bank holding company headquartered in Houston, Texas. Through its affiliates, Cadence operates 65 locations in Alabama, Florida, Mississippi, Tennessee and Texas as of March 31, 2017, and provides corporations, middle-market companies, small businesses and consumers with a full range of innovative banking and financial solutions. Services and products include commercial and business banking, treasury management, specialized lending, commercial real estate, foreign exchange, wealth management, investment and trust services, financial planning, retirement plan management, business and personal insurance, consumer banking, consumer loans, mortgages, home equity lines and loans, and credit cards. Clients have access to leading-edge online and mobile solutions, interactive teller machines, and 55,000 ATMs. The Cadence team of 1,200 associates is committed to exceeding customer expectations and helping their clients succeed financially. Cadence Bank, N.A., Cadence Insurance, and Linscomb & Williams are direct or indirect subsidiaries of Cadence Bancorporation.

Cautionary Statement Regarding Forward-Looking Information

This communication contains forward-looking statements. These forward-looking statements reflect our current views with respect to, among other things, the launch and completion of the initial public offering of our common stock. These statements are often, but not always, made through the use of words or phrases such as “may,” “should,” “could,” “predict,” “potential,” “believe,” “will likely result,” “expect,” “continue,” “will,” “anticipate,” “seek,” “estimate,” “intend,” “plan,” “projection,” “would” and “outlook,” or the negative version of those words or other comparable words of a future or forward-looking nature. These forward-looking statements are not historical facts, and are based on current expectations, estimates and projections about our industry, management’s beliefs and certain assumptions made by management, many of which, by their nature, are inherently uncertain and beyond our control. Accordingly, we caution you that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions and uncertainties that are difficult to predict. Although we believe that the expectations reflected in these forward-looking statements are reasonable as of the date made, actual results may prove to be materially different from the results expressed or implied by the forward-looking statements. The foregoing factors should not be construed as exhaustive and should be read together with the other cautionary statements included in the registration statement on Form S-1, including the preliminary prospectus, we have filed with the SEC. If one or more events related to these or other risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, actual results may differ materially from what we anticipate. Accordingly, you should not place undue reliance on any such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made, and we do not undertake any obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise. New factors emerge from time to time, and it is not possible for us to predict which will arise. In addition, we cannot assess the impact of each factor on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.

We have filed a registration statement on Form S-1 (including a preliminary prospectus) with the SEC for the offering to which this communication relates. Before making any investment decision, investors are urged to carefully read the preliminary prospectus in that registration statement, any amendments or supplements to the preliminary prospectus, and other documents we have filed with the SEC for more complete information about us and the proposed offering. Investors may obtain the registration statement and prospectus free of charge from the SEC’s website at www.sec.gov.

Contacts

Cadence Bancorporation
Danielle Kernell, 713-871-4051 (direct)
SVP Marketing Communications
danielle.kernell@cadencebank.com

Release Summary

Cadence Bancorporation announces the launch of its initial public offering of shares of Class A common stock.

Contacts

Cadence Bancorporation
Danielle Kernell, 713-871-4051 (direct)
SVP Marketing Communications
danielle.kernell@cadencebank.com