Wintrust Financial Corporation Announces Full Exercise of Overallotment Option by Underwriters of Its Offering of Non-Cumulat...
March 15 2012 - 9:25AM
Wintrust Financial Corporation ("Wintrust" or the "Company")
(Nasdaq:WTFC) today announced that the underwriters of Wintrust's
offering of Non-Cumulative Perpetual Convertible Preferred Stock,
Series C ("Preferred Stock") exercised in full the overallotment
option granted to them in connection with the offering. As a
result, subject to the fulfillment of customary closing conditions,
the underwriters have agreed to purchase at the closing of the
offering an additional 16,500 shares, or $16,500,000 aggregate
liquidation preference, of Preferred Stock. After giving effect to
the exercise of the overallotment option, the underwriters have
agreed to purchase an aggregate of 126,500 shares, or $126,500,000
aggregate liquidation preference, of Preferred Stock in the
offering.
Wintrust intends to use the net proceeds for general corporate
purposes, which may include, without limitation, investments at the
holding company level, providing capital to support our growth,
acquisitions or other business combinations, including
FDIC-assisted acquisitions, and reducing or refinancing existing
debt.
RBC Capital Markets and BofA Merrill Lynch are acting as joint
book-running managers and Sandler O'Neill + Partners, L.P. and
Wells Fargo Securities are acting as co-managers for the
offering.
This press release shall not constitute an offer to sell or the
solicitation of any offer to buy any securities, nor shall there be
any sale of these securities in any jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such
jurisdiction. The offering will only be made by means of a
prospectus and a related prospectus supplement, copies of which may
be obtained from: RBC Capital Markets, LLC, Three World Financial
Center, 200 Vesey Street, 8th Floor, New York, New York 10281,
Telephone: (877) 822-4089 or BofA Merrill Lynch, 4 World Financial
Center, New York, New York 10080, Attn: Prospectus Department or
email dg.prospectus_requests@baml.com.
About Wintrust
Wintrust is a financial holding company with assets of
approximately $16 billion whose common stock is traded on the
NASDAQ Global Select Market. Wintrust operates fifteen community
banks that provide a full complement of commercial and consumer
loan and deposit products and services through approximately 100
banking facilities in the Chicago and Milwaukee metropolitan areas.
Wintrust also provides brokerage, trust and investment services to
customers primarily in the Midwest, as well as customers of the
banks, and provides services in mortgage banking, insurance premium
financing and several specialty-lending niches.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the federal securities laws. Investors are
cautioned that such statements are predictions and that actual
events or results may differ materially. Wintrust's expected
financial results or other plans are subject to a number of risks
and uncertainties. For a discussion of such risks and
uncertainties, which could cause actual results to differ from
those contained in the forward-looking statements, see "Risk
Factors" and the forward-looking statement disclosure contained in
each of Wintrust's preliminary prospectus supplement dated March
13, 2012, and Wintrust's Annual Report on Form 10-K for the most
recently ended fiscal year. Forward-looking statements speak
only as of the date made and Wintrust undertakes no duty to update
the information.
CONTACT: |
Edward J. Wehmer, |
|
President & Chief Executive Officer |
|
David A. Dykstra, |
|
Senior Executive Vice President & Chief
Operating Officer |
|
(847) 615-4096 |
Wintrust Financial Corporation "Safe Harbor" Statement under the
Private Securities Litigation Reform Act of 1995: Statements in
this press release regarding Wintrust Financial Corp.'s business
which are not historical facts are "forward-looking statements"
that involve risks and uncertainties. For a discussion of such
risks and uncertainties, which could cause actual results to differ
from those contained in the forward-looking statements, see "Risk
Factors" in the Company's Annual Report on Form 10-K for the most
recently ended fiscal year.
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