Wintrust Financial Corp. begins stock sale
ROSEMONT -- Wintrust Financial Corp. announced the pricing of its public offering of 3 million shares of its common stock at a price to the public of $86 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, 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 week's offering for general corporate purposes.