India, May 8 -- Wintrust Financial Corp. (WTFC) announced that it has priced an underwritten public offering of 17 million depositary shares with a liquidation preference of $25.00 per share for gross proceeds of $425 million before deducting underwriting discounts and other estimated offering expenses.
Each Depositary Share represents a 1/1,000th interest in a share of Wintrusts 7.875% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series F.
The offering is expected to close on May 22, 2025, subject to customary closing conditions.
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Wintrust plans to use the net proceeds from the offering for general corporate purposes, which may include the...