Pinnacle Financial Partners, Inc. (NasdaqGS:PNFP) expect to use the net proceeds from the issue of 2.8 million shares for an aggregate proceeds of $175 million for general corporate purposes, which may include funding the cash portion of the purchase price or providing capital for acquisitions, capital expenditures, investments, providing capital to support our growth and working capital needs and the repayment, redemption or refinancing of all or a portion of any of our or Pinnacle Bank’s indebtedness or other securities outstanding at a particular time.
Pinnacle Financial Partners, Inc. is a financial holding company. The Company operates through its wholly owned subsidiary, Pinnacle Bank (the Bank). The Bank is a Tennessee state-chartered bank. It offers a range of lending products, including commercial, real estate and consumer loans to individuals, businesses, and professional entities. The Bank is also focused on offering core deposits, including savings, noninterest-bearing checking, interest-bearing checking, money market and certificate of deposit accounts, including access to products offered through various IntraFi Network Deposit programs. The Bank also provides fiduciary and investment services through its Trust & Investment Services department. Its treasury management services include, online wire origination, automated bill pay services, positive pay, and others. It operates approximately 128 offices, including 51 in Tennessee, 39 in North Carolina, 21 in South Carolina, 10 in Virginia, three in Georgia.