Wintrust Financial Announces Pricing Of $425 Mln Preferred Stock Offering

(RTTNews) - 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.

Wintrust plans to use the net proceeds from the offering for general corporate purposes, which may include the redemption of all or a portion of its outstanding shares of Series D preferred stock and/or Series E preferred stock and the corresponding depositary shares representing interests in the Series E preferred stock, subject to approval from the Federal Reserve.

Wintrust intends to apply to list the Depositary Shares on The Nasdaq Global Select Market under the symbol WTFCN.