BNC Bancorp (BNCN)

[Enterprising Investor]

BNC Bancorp Announces Pricing Of Common Stock Offering (11/16/15)

HIGH POINT, N.C., Nov. 16, 2015 /PRNewswire/ -- BNC Bancorp ("BNC") (NASDAQ: BNCN), the holding company for Bank of North Carolina, announced today the pricing of an underwritten public offering of 2,250,000 shares of its common stock at a price of $23.50 per share. The offering price represents a 3.3% discount to the 10-day volume weighted average price. BNC has granted the underwriter a 30-day option to purchase up to an additional 337,500 shares. BNC expects to complete the offering on or about November 19, 2015. The offering is expected to result in gross proceeds of $52.9 million and net proceeds of approximately $49.7 million, after underwriting discounts and estimated expenses. The shares will be issued pursuant to an effective shelf registration statement on Form S-3 (File No. 333-198370) and a prospectus supplement to be filed with the Securities and Exchange Commission (the "SEC"). Copies of the prospectus supplement and the accompanying prospectus are available by visiting the SEC's website at www.sec.gov, or from Stephens Inc., 111 Center Street, Little Rock, Arkansas 72201, Attn: Syndicate (1-800-643-9691).

Stephens Inc. is the sole underwriter for the offering.

BNC intends to use the net proceeds for general corporate purposes, including the payment of the cash portion of the consideration in the recently announced acquisition of High Point Bank Corporation.

This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

ABOUT BNC BANCORP

Headquartered in High Point, North Carolina, BNC Bancorp is the parent company of Bank of North Carolina, a commercial bank providing a complete line of banking and financial services to individuals and businesses through its 64 banking offices in Virginia, North and South Carolina. The Bank's 19 locations in South Carolina and nine locations in Virginia operate as BNC Bank. Bank of North Carolina is insured by the FDIC and is an equal housing lender. BNC Bancorp's stock is traded and quoted in the NASDAQ Capital Market under the symbol "BNCN." BNC Bancorp's website is www.bncbancorp.com.

http://www.prnewswire.com/news-releases/bnc-bancorp-announces-pricing-of-common-stock-offering-300178946.html