Business First Bancshares raises ~$46.8M in 2.5M share offering at $20/share

Business First Bancshares, Inc.

Issued 2,500,000 shares of Common Stock at $20.00 per share in underwritten public offering.
Net proceeds of approximately $46.75 million after underwriting discounts and expenses.
Proceeds to be used for general corporate purposes, including capital augmentation, organic growth, acquisitions, and redeeming subordinated debt.
Underwriters include Stephens, Inc.; offering closed on October 17, 2022.
Directors and executive officers entered into 90-day lock-up agreements on Company securities.

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