Wintrust Financial Corporation Announces Pricing of Upsized $258 Million Common Stock Offering
June 07 2022 - 8:42PM
Wintrust Financial Corporation (“Wintrust” or the “Company”)
(NASDAQ: WTFC) today announced the pricing of its upsized
underwritten public offering of 3,000,000 shares of its common
stock at a price to the public of $86.00 per share. In connection
with the offering, Wintrust has granted the underwriters a 30-day
option to purchase up to 450,000 additional shares of common stock.
The offering is expected to close on June 10, 2022, subject to
customary closing conditions.
Assuming the underwriters do not exercise their option to
purchase additional shares, Wintrust expects to receive net
proceeds for the offering of approximately $248.4 million, after
deducting underwriting discounts and commissions and estimated
offering expenses. Wintrust intends to use the net
proceeds from this offering for general corporate purposes.
RBC Capital Markets, LLC and Raymond James & Associates,
Inc. are acting as joint book-running managers for the
offering.
The offering is being made under an effective shelf registration
on file with the U.S. Securities and Exchange Commission (the
“SEC”). The offering may be made only by means of a prospectus
supplement and the accompanying prospectus. Prospective investors
should read the prospectus supplement and the accompanying
prospectus in the registration statement and other documents
Wintrust has filed or will file with the SEC for more complete
information about Wintrust and the offering. Copies of the
prospectus supplement and accompanying prospectus describing the
offering may be obtained by visiting EDGAR on the SEC’s website at
www.sec.gov or by contacting RBC Capital Markets, LLC, Attention:
Equity Syndicate, 200 Vesey Street, 8th Floor, New York, New York
10281, telephone: (877) 822-4089, email:
equityprospectus@rbccm.com; or Raymond James & Associates,
Inc., 880 Carillon Parkway, St. Petersburg, FL 33716, or by calling
toll-free 1-800-248-8863.
This press release shall not constitute an offer to sell, or a
solicitation of an offer to buy, nor shall there be any sale of any
securities in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such state or
jurisdiction.
About Wintrust
Wintrust is a financial holding company with assets of
approximately $50 billion whose common stock is traded on the
NASDAQ Global Select Market. Built on the “HAVE IT ALL” model,
Wintrust offers sophisticated technology and resources of a large
bank while focusing on providing service-based community banking to
each and every customer. Wintrust operates fifteen community bank
subsidiaries, with over 170 banking locations located in the
greater Chicago and southern Wisconsin market areas. Additionally,
Wintrust operates various non-bank business units, including
business units which provide commercial and life insurance premium
financing in the United States, a premium finance company operating
in Canada, a company providing short-term accounts receivable
financing and value-added out-sourced administrative services to
the temporary staffing services industry, a business unit engaging
primarily in the origination and purchase of residential mortgages
for sale into the secondary market throughout the United States,
and companies providing wealth management services and qualified
intermediary services for tax-deferred exchanges.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the federal securities laws, including, without
limitation, statements related to the completion of the public
offering, the satisfaction of customary closing conditions related
to the public offering and the intended use of proceeds from the
public offering. These forward-looking statements are based on
management’s current expectations and beliefs and certain
assumptions made by our management. Investors are cautioned that
such statements are predictions and 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 Wintrust's Annual
Report on Form 10-K for the fiscal year ended December 31, 2021 and
in any of the Company’s subsequent SEC filings. Forward-looking
statements speak only as of the date made and, except as required
by law, Wintrust undertakes no duty to update its forward-looking
statements.
FOR MORE INFORMATION CONTACT:
Edward J. Wehmer, Founder & Chief Executive OfficerDavid A.
Dykstra, Vice Chairman & Chief Operating Officer(847)
939-9000
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