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Slideshow Preferred Stock Offerings

By Preferred Stock Channel Staff, updated Fri, May 20, 10:09 PM

Slide #90. First Midwest Bancorp, Inc. Preferred Stock Offering

Company: First Midwest Bancorp, Inc. (NASDAQ:FMBIP)
Date announced: 5/14/2020
Shares Offered: 4,000,000
Date of Pricing: 5/14/2020
Price Per Share: $25.00
Preferred Stock Offering Details: First Midwest Bancorp, Inc. ("First Midwest") today announced that it has priced an underwritten public offering of 4,000,000 depositary shares, each representing a 1/40th ownership interest in a share of its 7.000% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A, without par value, with a liquidation preference of $1,000 per share of preferred stock (equivalent to $25 per depositary share) at an aggregate offering price of $100 million. First Midwest also has granted the underwriters a 30-day option to purchase up to an additional 600,000 depositary shares from First Midwest. The offering is expected to close on May 20, 2020, subject to customary closing conditions. First Midwest intends to use the net proceeds of the offering for general corporate purposes and will apply to list the depositary shares on the Nasdaq Stock Market under the symbol "FMBIP."

  First Midwest Bancorp, Inc.: trading symbol FMBIP
 

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