Wintrust Financial Corporation has announced the redemption of all outstanding Series D and Series E preferred stock and related depositary shares. The redemption is set for July 15, 2025, and will be funded with a portion of the net proceeds from Wintrust’s public offering of depositary shares, completed on May 22, 2025.
The 5,000,000 issued and outstanding shares of its Series D preferred stock will be redeemed for a price of $25.00 per share, while the 11,500 issued and outstanding shares of its 6.875% fixed-rate reset non-cumulative perpetual preferred stock, Series E, along with the related 11,500,000 depositary shares, will be redeemed for a price of $25,000 per share of Series E preferred stock (or $25.00 per depositary share).
Following the redemption on July 15, 2025, no shares of Series D preferred stock, Series E preferred stock, or depositary shares will remain outstanding, and trading of the Series D preferred stock and depositary shares on the NASDAQ stock market will cease.
The redemption price will not include any accrued and unpaid dividends, and after the redemption date, all dividends on the Series D preferred stock and Series E preferred stock (and related depositary shares) will cease to accrue.
Wintrust Financial Corporation is a financial holding company with its common stock traded on the NASDAQ Global Select Market. It operates more than 200 retail banking locations through 16 community bank subsidiaries in the greater Chicago, southern Wisconsin, west Michigan, northwest Indiana, and southwest Florida market areas. Additionally, it operates various non-bank business units, providing residential mortgage origination, wealth management, and other financial services. Following these announcements, the company's shares moved -0.73%, and are now trading at a price of $120.10. For the full picture, make sure to review WINTRUST FINANCIAL CORP's 8-K report.
