FIG Partners Managed $63.25 Million Preferred Stock Offering For The First Bancshares, Inc.

FIG Has Now Completed 15 Equity Capital Raises Since 2015
Totaling More Than $400 Million

ATLANTA, October 18, 2016 — The First Bancshares, Inc. (NASDAQ: FBMS) has announced a private placement offering of $63.25 million in preferred stock.

FIG Managed $63.25 Million Preferred Stock OfferingFirst Bancshares raised $63.25 million in new capital through the offering at $17.75 per share.

The preferred stock will automatically convert into shares of First Bancshares’ common stock at a ratio of one share of common stock for each share of preferred stock owned within three business days following the Company’s receipt of shareholder approval. The next shareholders’ meeting is scheduled for December 7, 2016.

First Bancshares also announced merger agreements with Iberville Bank in Plaquemine, Louisiana and Gulf Coast Community Bank in Pensacola, Florida. 

The Company intends to use the net proceeds from this offering to finance a portion of the Iberville Bank acquisition and related expenses, to support its capital ratios in connection with Iberville Bank and Gulf Coast Community Bank acquisitions, and for general corporate purposes. 

M. Ray “Hoppy” Cole, President and Chief Executive Officer of First Bancshares said, “We believe that the announcements of two mergers and the capital raise are transformational in the history of our company and create tremendous value for our shareholders.”

FIG Partners served as senior placement agent to First Banchares, Inc. The FIG team included Greg Gersack, Senior Managing Principal and Co-Head of Investment Banking; John Schramm, Principal; and Lozan Aleksandrov, Senior Vice President and Deputy Head of Capital Markets. 

More information from First Banchshares, Inc. is available here.

To learn more about FIG Partners, visit www.figpartners.com.