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Learn about Richard Arnholt's diverse government contracts practice and why he chose to pursue a career in the legal field. Read more>

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In June 2017, Pinnacle Financial Partners, Inc. (NASDAQ: PNFP) closed a $1.9 billion merger with BNC Bancorp (NASDAQ: BNCN) pursuant to which BNC merged with and into Pinnacle. With the completion of the transaction, Pinnacle becomes a Top 50 U.S. Bank. The merger will create a four state footprint concentrated in 12 of the largest urban markets in the Southeast. 

Bass, Berry & Sims has served Pinnacle as primary corporate and securities counsel for more than 15 years and served as counsel on the transaction. Our attorneys were involved in all aspects related to the agreement, including tax, employee benefits and litigation. 

Read more details about the transaction here.

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Regulation A+

It seems that lately there has been a noticeable uptick in Regulation A+ activity, including several recent Reg A+ securities offerings where the stock now successfully trades on national exchanges. In light of this activity, we have published a set of FAQs about Regulation A+ securities offerings to help companies better understand this "mini-IPO" offering process, as well as pros and cons compared to a traditional underwritten IPO.

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Jeff Oldham on Proposed Exception to Tennessee’s Usury Law and Nashville Convention Center Bond Financing

Media Mentions

March 4, 2010

Bass, Berry & Sims attorney Jeff Oldham, chair of the firm's Public Finance Practice, discusses the impact of a proposed exception to Tennessee Usury Law and the bond financing for the new Nashville Convention Center for The Bond Buyer. The article by Shelly Sigo, titled "Nashville Convention Deal Waits on Change to State’s Usury Law," appears in the March 3, 2010 issue.

From the article:

But Nashville has asked lawmakers for an exception to the usury law because it is unclear whether the 35% interest subsidy for BABs from the U.S. Treasury can be included in the interest-rate calculation, said Jeff Oldham, the authority’s bond counsel at Bass Berry & Sims PLC.

"This is just a clarification of state law to make sure BABs and their higher stated coupons don't trip up against a technical usury statute," he said. "BABs offer us a good deal and because of the way they are structured with a taxable interest rate, we don’t want to go into a market with any doubts."

Tennessee has had a usury law since 1979 regulating the maximum interest rate on muni bonds. The law was instituted when the prime and interest rates were much higher. The current rate is 4% over the prime rate, or 7.25%, said Mary-Margaret Collier, director of the state's Division of Bond Finance.

With permission of © 2010 The Bond Buyer and SourceMedia Inc., All rights reserved.


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