Preferred Stock Offerings

By Preferred Stock Channel Staff, updated Fri, April 19, 2:59 AM

This Slide: #119 of 620

Slide #119. Heartland Financial USA, Inc. — Preferred Stock Offering

Company:	Heartland Financial USA, Inc. (NASDAQ:HTLFP)
Date announced:	6/19/2020
Shares Offered:	4,000,000
Date of Pricing:	6/19/2020
Price Per Share:	$25.00
Preferred Stock Offering Details:	Heartland Financial USA, Inc. (NASDAQ: HTLF) ("Heartland") today announced that it has priced an underwritten public offering of 4,000,000 depositary shares (the "depositary shares"), each representing a 1/400th interest in a share of 7.00% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series E, with a liquidation preference of $25 per depositary share (equivalent to $10,000 per share of Series E Preferred Stock). The offering is subject to customary closing conditions and is expected to close on or about June 26, 2020. Heartland has applied to list the depositary shares on The Nasdaq Global Select Market under the symbol "HTLFP." Raymond James & Associates, Inc., Keefe, Bruyette & Woods, Inc., A Stifel Company, Wells Fargo Securities, LLC, D.A. Davidson & Co., and Piper Sandler & Co. are acting as joint book-running managers. The underwriters have been granted a 30-day option to purchase an additional 600,000 depositary shares.

Heartland Financial USA is a multi-bank holding company. Co. conducts a community banking business through community banks (collectively, the Banks). The principal business of Co.'s Banks consists of making loans to and accepting deposits from businesses and individuals. Co.'s Banks provide commercial and retail banking in their communities. Co.'s lending and investment activities are funded primarily by core deposits. Deposit products include checking and other demand deposit accounts, Negotiable Order of Withdrawal accounts, savings accounts, money market accounts, certificates of deposit, individual retirement accounts, health savings accounts and other time deposits.
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