Simmons First National in Pine Bluff, Ark., is planning to raise $300 million by selling common stock.
The company announced in a press release that it is selling about 16.2 million shares to the public at $18.50 per share. Another 2.4 million shares could be sold if there is enough demand.
Simmons plans to use the net proceeds for general corporate purposes such as investments in its bank to support a potential balance sheet repositioning and continued growth.
The offering is expected to close on July 23.