Wintrust Financial Corporation Announces Pricing of $250 Million Preferred Stock Offering

About this update from Wintrust Financial Corporation

[{"type":"text","content":"ROSEMONT, Ill., May 06, 2020 (GLOBE NEWSWIRE) -- 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.\n Wintrust intends to use the net proceeds from the offering for general corporate purposes, which may include, without limitation, investments at the holding company level, providing capital to support growth, acquisitions or other business combinations, including FDIC-assisted acquisitions, and reducing or refinancing existing debt. Wintrust intends to apply to list the Depositary Shares on The Nasdaq Global Select Market under the symbol \"WTFCE.\" RBC Capital Markets and Wells Fargo Securities are acting as joint book-running managers, Raymond James is acting as joint lead manager and Incapital is acting as Co-Manager 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 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 websiteat www.sec.gov or by contacting RBC Capital Markets, LLC, Brookfield Place, 200 Vesey Street, 8th Floor, New York, New York 10281. Telephone: 1-866 375-6829.Email: [email protected]. This press release shall not constitute an offer to sell or the solicitation of any offer to buy any se...

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