Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Thu, December 2, 11:43 AM
|This Slide: #86 of 573|
Slide #86. Wintrust Financial Corporation — Preferred Stock Offering
Wintrust Financial Corporation (NASDAQ:WTFC)
Date of Pricing:
Price Per Share:
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 is a financial holding company.Through its community banking segment, Co.'s banking subsidiaries provide community-oriented, personal and commercial banking services. Through its specialty finance segment, Co. provides financing of insurance premiums for businesses and individuals; accounts receivable financing, out-sourced administrative services; and other finance businesses. Through its wealth management segment, Co. provides a range of wealth management services including trust and investment services, tax-deferred like-kind exchange services, asset management, securities brokerage services and 401(k) and retirement plan services.
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Strong Buy (3.67 out of 4)
(ranked higher than approx. 60% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com