Wintrust Financial Corporation Announces Pricing of $425 Million Preferred Stock Offering

About this update from Wintrust Financial Corporation

[{"type":"text","content":"ROSEMONT, Ill., May 08, 2025 (GLOBE NEWSWIRE) -- Wintrust Financial Corporation (“Wintrust”) (Nasdaq: WTFC) today announced that it has priced an underwritten public offering of 17 million depositary shares with a liquidation preference of $25.00 per share (the “Depositary Shares”) for gross proceeds of $425 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 7.875% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series F. The offering is expected to close on May 22, 2025, subject to customary closing conditions. Wintrust intends to use the net proceeds from the offering for general corporate purposes, which may include the redemption of all or a portion of its outstanding shares of Series D preferred stock and/or Series E preferred stock and the corresponding depositary shares representing interests in the Series E preferred stock, subject to approval from the Federal Reserve. Wintrust intends to apply to list the Depositary Shares on The Nasdaq Global Select Market under the symbol “WTFCN.” RBC Capital Markets is acting as sole book-running manager and Keefe, Bruyette & Woods, A Stifel Company, Piper Sandler and US Bancorp are acting as co-managers for the offering. The offering is being made under an effective shelf registration statement on file with the U.S. Securities and Exchange Commission (the “SEC”). The offering may be made only by means of a prospectus supplement and the accompanying prospectus. Prospective investors should read the prospectus supplement and the accompanying prospectus in the registration statement and other documents Wintrust has filed or will file with the SEC for more complete information about Wintrust and the offering. Copies of the prospectus supplement and accompanying prospectus describing the offering may be obtained by visiting EDGAR on the SEC’s website at www.sec.gov or by contacting RBC Capital Markets, LLC toll free at 1-866-375-6829. This press release shall not constitute an offer to sell or the solicitation of any offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jur...

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