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Washington Federal, Inc. Announces Pricing of $300,000,000 Depositary Shares Offering
SEATTLE--(BUSINESS WIRE)-- Washington Federal, Inc. (NASDAQ: WAFD) (“Washington Federal”) today announced the pricing of a public offering of 12,000,000
About this update from Wafd, Inc.
[{"type":"text","content":" SEATTLE--(BUSINESS WIRE)--\nWashington Federal, Inc. (NASDAQ: WAFD) (“Washington Federal”) today announced the pricing of a public offering of 12,000,000 depositary shares, each representing 1/40th ownership interest in a share of its 4.875% fixed rate non-cumulative perpetual preferred stock, Series A, at an aggregate offering price to the public of $300,000,000. Each share of preferred stock has a liquidation preference of $1,000 per share, equivalent to $25.00 per depositary share. The offering is expected to close on February 8, 2021, subject to customary closing conditions.\n\nMorgan Stanley & Co. LLC, BofA Securities, Inc., UBS Securities LLC and Wells Fargo Securities, LLC are the joint-book running managers for the offering. Goldman Sachs & Co. LLC is joint lead manager and Keefe, Bruyette & Woods, Inc., A Stifel Company, is co-manager for the offering.\n\nThe net proceeds from the issuance and sale of the depositary shares, after deducting underwriting discount and commissions, and the payment of estimated expenses, will be approximately $293,560,000. Washington Federal intends to use the net proceeds from the offering for general corporate purposes, which may include share repurchases of Washington Federal’s common stock.\n\nThis press release does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The securities being offered have not been approved or disapproved by any regulatory authority, nor has any such authority passed upon the accuracy or adequacy of the prospectus supplement or the shelf registration statement or prospectus relating to the offering.\n\nThe offering is being made only by means of a prospectus supplement and accompanying base prospectus. Washington Federal has filed a registration statement (including a base prospectus) and a preliminary prospectus supplement with the U.S. Securities and Exchange Commission (the “SEC”) for the offering to which this communication relates and will file a final prospectus supplement relating to the offering. Prospective investors should read the prospectus supplement and base prospectus in that registration statement and oth...