Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Saturday, March 14, 3:09 PM
Slide #177. Wintrust Financial Corporation — Preferred Stock Offering
| Company: |
Wintrust Financial Corporation (NASDAQ:WTFC) |
| Date announced: |
5/6/2020 |
| Shares Offered: |
10,000,000 |
| Date of Pricing: |
5/6/2020 |
| Price Per Share: |
$25.00 |
| Preferred Stock Offering Details: |
Wintrust Financial Corporation ("Wintrust") (Nasdaq: WTFC) today announced that it has priced an underwritten public offering of 10 million depositary shares with a liquidation preference of $25.00 per share (the "Depositary Shares") for gross proceeds of $250 million before deducting underwriting discounts and other estimated offering expenses. Each Depositary Share represents a 1/1,000th interest in a share of Wintrust's 6.875% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series E. In connection with the offering, Wintrust has granted the underwriters a 30-day option to purchase up to 1.5 million additional Depositary Shares. The offering is expected to close on May 15, 2020, subject to customary closing conditions. |
Wintrust Financial Corporation is a financial holding company. Co. provides community-oriented, personal and commercial banking services to customers generally located in the Chicago metropolitan area, southern Wisconsin and northwest Indiana. Co. has three segments: community banking, specialty finance and wealth management. Through its community banking segment, its banks provide community-oriented, personal and commercial banking services to customers located in its market area. Its customers include individuals, small to mid-sized businesses, local governmental units and institutional clients residing primarily in the banks' local service areas.
Preferreds: WTFCM, WTFCP, WTFCN
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