Jim Ayers, who oversaw the growth into a regional power of what is today FirstBank, is taking a few more chips off the table.
Ayers has filed papers to sell 2.5 million of his shares of FB Financial, FirstBank’s parent company, a move that looks likely to grow his bank account by about $100 million. The offering will trim his stake in downtown-based FB Financial to 23.5 percent from nearly 29 percent.
Ayers was the sole owner of FirstBank prior to FB Financial’s initial public offering in September 2016. Post-IPO, he retained at 71 percent stake and has since trimmed that via several transactions. His current stake in the company is worth about $550 million.
Shares of FB Financial (Ticker: FBK) were down more than 4 percent to $40.68 in midday trading Tuesday. So far this year, they have risen about 20 percent.
Tivity Health executives are headed to the credit markets aiming to save some money in the coming years and let them invest more in their growth initiatives centered around digital services.
Franklin-based Tivity has hired bankers from Morgan Stanley, Credit Suisse and Truist Bank to drum up support for their new senior secured credit facilities, which will feature both a term loan and a revolver. The size of the new package has yet to be finalized but the company plans to pay off the $405 million outstanding under its current deals — signed in early 2019 to facilitate the ill-fated purchase of Nutrisystem — while also raising some money for general purposes. (Tivity CEO Richard Ashworth and his team late last year paid down $519 million on their term loans after selling Nutrisystem.)
Shares of Tivity (Ticker: TVTY) were up 2 percent to $26.51 around noon Tuesday. Year to date, they have risen about 30 percent.