Business First Bancshares announces $46.75M common stock offering at $20/share

Business First Bancshares, Inc.

Underwritten public offering of 2.5M shares at $20.00 per share; net proceeds ~$46.75M.
Use of proceeds: general corporate, capital, organic growth, acquisitions, subordinated debt redemption.
Expected close on or about October 17, 2022; Stephens Inc. sole book-runner.
Preliminary Q3 2022 results: total assets $5.81B, gross loans $4.43B, net interest margin 4.05%.
Core pre-tax, provision earnings for Q3 2022 were $23.9M vs $20.6M GAAP pre-tax pre-provision earnings.

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