Associated Banc-Corp announces proposed common stock offering
Associated Banc-Corp (NYSE: ASB) has announced a proposed public offering of 11.5 million shares of its common stock, with an additional option for underwriters to purchase up to 1.725 million shares within 30 days of pricing. The company plans to use the net proceeds for general corporate purposes, including supporting organic growth, capital generation, and potential investments in Associated Bank, N.A. BofA Securities and J.P. Morgan are serving as joint book-running managers for the offering. The stock will be issued under an effective shelf registration statement with the SEC.
Associated Banc-Corp (NYSE: ASB) ha annunciato un'offerta pubblica proposta di 11,5 milioni di azioni delle sue azioni ordinarie, con un'opzione aggiuntiva per i sottoscrittori di acquistare fino a 1,725 milioni di azioni entro 30 giorni dalla determinazione del prezzo. L'azienda prevede di utilizzare i proventi netti per fini generali aziendali, inclusi il supporto alla crescita organica, la generazione di capitale e potenziali investimenti in Associated Bank, N.A. BofA Securities e J.P. Morgan stanno agendo come gestori congiunti dell'offerta. Le azioni saranno emesse sotto una dichiarazione di registrazione a scaffale efficace con la SEC.
Associated Banc-Corp (NYSE: ASB) ha anunciado una oferta pública propuesta de 11,5 millones de acciones de sus acciones comunes, con una opción adicional para que los suscriptores compren hasta 1,725 millones de acciones dentro de los 30 días posteriores a la determinación del precio. La empresa planea utilizar los ingresos netos para fines corporativos generales, incluyendo el apoyo al crecimiento orgánico, la generación de capital y posibles inversiones en Associated Bank, N.A. BofA Securities y J.P. Morgan están actuando como gerentes conjuntos de la oferta. Las acciones se emitirán bajo una declaración de registro de estantería efectiva con la SEC.
Associated Banc-Corp (NYSE: ASB)는 1150만 주의 보통주 공모를 제안했다고 발표했으며, 인수인에게는 가격 결정 후 30일 이내에 최대 172만 5000주를 추가로 구매할 수 있는 옵션이 있습니다. 회사는 일반 기업 목적을 위한 순수익을 사용하고자 하며, 여기에는 유기적 성장 지원, 자본 생성 및 Associated Bank, N.A.에 대한 잠재적 투자 등이 포함됩니다. BofA Securities와 J.P. Morgan은 공모의 공동 주관 관리자로 활동하고 있습니다. 주식은 SEC의 유효한 선반 등록 청구서에 따라 발행될 예정입니다.
Associated Banc-Corp (NYSE: ASB) a annoncé une offre publique proposée de 11,5 millions d'actions de son capital social ordinaire, avec une option supplémentaire pour les souscripteurs d'acheter jusqu'à 1,725 million d'actions dans les 30 jours suivant la fixation du prix. La société prévoit d'utiliser le produit net à des fins générales, y compris le soutien à la croissance organique, la génération de capital et d'éventuels investissements dans Associated Bank, N.A. BofA Securities et J.P. Morgan agissent en tant que gestionnaires co-dirigeants pour l'offre. Les actions seront émises sous une déclaration d'enregistrement en étagère effective auprès de la SEC.
Associated Banc-Corp (NYSE: ASB) hat ein vorgeschlagenes öffentliches Angebot von 11,5 Millionen Aktien ihrer Stammaktien angekündigt, mit einer zusätzlichen Option für die Underwriter, innerhalb von 30 Tagen nach Festlegung des Preises bis zu 1,725 Millionen Aktien zu erwerben. Das Unternehmen plant, die Nettoerlöse für allgemeine Unternehmenszwecke zu verwenden, einschließlich der Unterstützung des organischen Wachstums, der Kapitalbeschaffung und potenzieller Investitionen in die Associated Bank, N.A. BofA Securities und J.P. Morgan fungieren als gemeinsame Buchführer für das Angebot. Die Aktien werden unter einer effektiven Shelf-Registrierungserklärung bei der SEC ausgegeben.
- Potential for increased capital generation and organic growth
- Strategic investment opportunities in Associated Bank, N.A.
- Significant shareholder dilution due to 11.5 million new shares being issued
- Additional potential dilution from 1.725 million optional shares
Insights
This secondary stock offering of 11.5 million shares plus a potential 1.725 million additional shares represents significant dilution for existing shareholders. Given ASB's current market cap of
The stated use of proceeds for "general corporate purposes" and "balance sheet optimization" suggests potential defensive capital raising, which may indicate concerns about the bank's capital position or anticipated regulatory requirements. While the additional capital could support organic growth, the dilutive impact and timing of this offering amid challenging market conditions for regional banks raises some red flags.
The involvement of major underwriters BofA Securities and J.P. Morgan adds credibility but also implies significant fees. Investors should carefully monitor the pricing details and scrutinize the bank's Q3 financials to better understand the urgency and necessity of this capital raise.
In addition, Associated Banc-Corp ("Associated") expects to grant the underwriters for the offering an option to purchase up to an additional 1,725,000 shares of its Common Stock sold in the offering for 30 days following the date of the pricing of the offering.
Associated expects to use the net proceeds from this offering for general corporate purposes to support continued organic growth and capital generation, which may include investments in Associated Bank, N.A. and potential balance sheet optimization strategies.
BofA Securities and J.P. Morgan are acting as joint book-running managers for the offering.
The Common Stock will be issued pursuant to an effective shelf registration statement (File No. 333- 280004) and a preliminary prospectus supplement filed with the Securities and Exchange Commission (the "SEC"), and a final prospectus supplement to be filed with the SEC.
Copies of the registration statement, the preliminary prospectus supplement and the accompanying base prospectus relating to the Common Stock offering can be obtained without charge by visiting the SEC's website at www.sec.gov, or by contacting BofA Securities, 201 North Tryon Street,
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 the Common Stock 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. Any offering of the Common Stock is being made only by means of a written prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
ABOUT ASSOCIATED BANC-CORP
Associated Banc-Corp (NYSE: ASB) has total assets of
FORWARD-LOOKING STATEMENTS
Statements made in this document which are not purely historical are forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. This includes any statements regarding the proposed offering and the intended use of proceeds. Such forward-looking statements may be identified by the use of words such as "believe," "expect," "anticipate," "plan," "estimate," "should," "will," "intend," "target," "outlook," "project," "guidance," or similar expressions. Forward-looking statements are based on current management expectations and, by their nature, are subject to risks and uncertainties. Actual results may differ materially from those contained in the forward-looking statements. Factors which may cause actual results to differ materially from those contained in such forward-looking statements include those identified in the Company's most recent Form 10-K and subsequent SEC filings.
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SOURCE Associated Banc-Corp
FAQ
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