Wintrust Financial Corporation Announces Public Offering of Common Stock

Rhea-AI Summary

Wintrust Financial Corporation (NASDAQ: WTFC) has initiated an underwritten public offering of 2,700,000 shares of its common stock, with an option for underwriters to purchase up to 405,000 additional shares within 30 days. The offering will utilize proceeds for general corporate purposes. RBC Capital Markets and Raymond James are managing the offering. This offering follows an effective shelf registration statement under the Securities Act of 1933. Investors can find additional information via the SEC’s website.

Positive

• Wintrust is raising capital through an underwritten public offering of 2,700,000 shares.
• The offering includes an option for underwriters to purchase up to 405,000 additional shares, indicating strong market interest.
• Proceeds are intended for general corporate purposes, which may enhance operational flexibility.

Negative

• The issuance of new shares may lead to shareholder dilution.
• Market reaction to stock offerings can be negative if investors perceive it as a lack of confidence in current financial health.

ROSEMONT, Ill., June 07, 2022 (GLOBE NEWSWIRE) -- Wintrust Financial Corporation (“Wintrust” or the “Company”) (NASDAQ: WTFC) today announced that it has commenced an underwritten public offering of 2,700,000 shares of its common stock. All of the shares included in the offering are primary shares offered by the Company. Wintrust intends to grant the underwriters a 30-day option to purchase up to 405,000 additional shares of common stock. 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 shares are being offered pursuant to an effective shelf registration statement under the Securities Act of 1933, as amended. The offering is being made only by means of a prospectus and related preliminary prospectus supplement, copies of which may be obtained from 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. Investors may also obtain copies of these documents free of charge by visiting the Securities and Exchange Commission’s (the “SEC”) website at www.sec.gov.

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 terms, timing and completion of the proposed common stock offering and the intended use of net proceeds therefrom. 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 most recent 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 Officer
David A. Dykstra, Vice Chairman & Chief Operating Officer
(847) 939-9000

FAQ

What is the purpose of Wintrust's public offering on June 7, 2022?

Wintrust's public offering aims to raise funds for general corporate purposes.

How many shares is Wintrust offering in its June 2022 public offering?

Wintrust is offering 2,700,000 shares of its common stock.

Who are the underwriters for Wintrust's stock offering?

RBC Capital Markets and Raymond James are the joint book-running managers for the offering.

What is the ticker symbol for Wintrust Financial Corporation?

The ticker symbol for Wintrust Financial Corporation is WTFC.

Is the offering made under a registration statement?

Yes, the offering is being made pursuant to an effective shelf registration statement under the Securities Act of 1933.