Byline Bancorp Announces Launch of Initial Public Offering
June 19 2017 - 8:00AM
Business Wire
Byline Bancorp, Inc. (“Byline” or the “Company”) today announced
the launch of its initial public offering of shares of its common
stock. Of the 5,700,000 shares of Byline’s common stock to be sold
in the offering, Byline is offering 3,775,194 shares and certain
selling stockholders are offering 1,924,806 shares. Byline expects
to grant the underwriters a 30-day option to purchase up to an
additional 855,000 shares of its common stock. The initial public
offering price is currently expected to be between $19.00 and
$21.00 per share of common stock. Byline’s common stock has been
approved for listing on the New York Stock Exchange (NYSE) under
the ticker symbol “BY,” subject to official notice of issuance.
Byline intends to use the net proceeds that it receives from
this offering to repay the outstanding balance under its line of
credit, to repurchase, subject to regulatory approval, its
outstanding Series A Preferred Stock, and for general corporate
purposes.
BofA Merrill Lynch and Keefe, Bruyette & Woods are acting as
joint book-running managers for the proposed offering. Piper
Jaffray & Co., Sandler O’Neill + Partners, L.P. and Stephens
Inc. are acting as co-managers.
The proposed offering will be made only by means of a
prospectus. Copies of the preliminary prospectus may be obtained
from: BofA Merrill Lynch, attention: Prospectus Department,
NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, NC
28255-0001, or by email at dg.prospectus_requests@baml.com; or
Keefe, Bruyette & Woods, Inc., Attention: Equity Capital
Markets, 787 Seventh Avenue, 4th Floor, New York, NY 10019; or by
calling Keefe, Bruyette & Woods, Inc. toll-free at (800)
966-1559.
A registration statement relating to these securities has been
filed with the U.S. Securities and Exchange Commission (the “SEC”),
but has not yet become effective. These securities may not be sold,
nor may offers to buy be accepted, prior to the time the
registration statement becomes effective. This press release shall
not constitute an offer to sell or the solicitation of an offer to
buy, 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 any such state or jurisdiction.
About Byline Bancorp, Inc.
Headquartered in Chicago, Byline is the holding company for
Byline Bank, a full service commercial bank serving small- and
medium-sized businesses, financial sponsors, and consumers. Byline
Bank had $3.3 billion in assets at March 31, 2017, and operates
more than 50 full service branch locations throughout the Chicago
metropolitan area. Byline Bank offers a broad range of commercial
and retail banking products and services including small ticket
equipment leasing solutions and is one of the top 10 Small Business
Administration lenders in the United States.
Forward Looking Statements
This communication contains forward-looking statements within
the meaning of the U.S. federal securities laws. Forward-looking
statements include, without limitation, statements concerning
plans, estimates, calculations, forecasts and projections with
respect to the anticipated future performance of the Company. These
statements are often, but not always, made through the use of words
or phrases such as ‘‘may’’, ‘‘might’’, ‘‘should’’, ‘‘could’’,
‘‘predict’’, ‘‘potential’’, ‘‘believe’’, ‘‘expect’’, ‘‘continue’’,
‘‘will’’, ‘‘anticipate’’, ‘‘seek’’, ‘‘estimate’’, ‘‘intend’’,
‘‘plan’’, ‘‘projection’’, ‘‘would’’, ‘‘annualized’’, “target” and
‘‘outlook’’, or the negative version of those words or other
comparable words or phrases of a future or forward-looking nature.
Forward-looking statements reflect various assumptions and involve
elements of subjective judgement and analysis which may or may not
prove to be correct and which are subject to uncertainties and
contingencies outside the control of Byline and its respective
affiliates, directors, employees and other representatives, which
could cause actual results to differ materially from those
presented in this communication. No representations, warranties or
guarantees are or will be made by Byline as to the reliability,
accuracy or completeness of any forward-looking statements
contained in this communication or that such forward-looking
statements are or will remain based on reasonable assumptions. You
should not place undue reliance on any forward-looking statements
contained in this communication.
We have filed a registration statement on Form S-1 (including a
preliminary prospectus) with the SEC for the offering to which this
communication relates. Before making any investment decision,
investors are urged to carefully read the preliminary prospectus in
that registration statement, any amendments or supplements to the
preliminary prospectus, and other documents we have filed with the
SEC for more complete information about us and the proposed
offering. Investors may obtain the registration statement and
prospectus free of charge from the SEC’s website at
www.sec.gov.
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version on businesswire.com: http://www.businesswire.com/news/home/20170619005459/en/
MediaByline BankErin O’Neill,
773-475-2901Director of
Marketingeoneill@bylinebank.comorInvestorsFinancial Profiles, Inc.Allyson
Pooley/Tony RossiBY@finprofiles.com
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