Associated Banc-Corp Completes Public Offering of Common Stock

Associated Banc-Corp, a Wisconsin-based company, recently announced the successful completion of a public offering involving 13,800,000 shares of its common stock, each valued at $0.01 per share. The offering was conducted in line with the company’s Registration Statement on Form S-3 (File No. 333-280004), along with related preliminary and final prospectus supplements filed on November 14, 2024, with the Securities and Exchange Commission.

The company sealed the deal through an underwriting agreement with BofA Securities, Inc. and J.P. Morgan Securities LLC, the underwriters of the offering. The shares were issued and sold to the underwriters at a public price of $25.00 per share. The Underwriting Agreement entails standard representations, warranties, and covenants by the Company, along with an agreement to indemnify the underwriters against certain liabilities as per the Securities Act of 1933.

Additionally, the underwriters were granted an option to purchase up to 1,800,000 additional shares of Common Stock within 30 days of the prospectus date, which was fully exercised on November 15, 2024. The net proceeds from the offering are anticipated to be around $330.7 million after deducting underwriting discounts, commissions, and estimated offering expenses payable by the Company.

The Underwriting Agreement, along with a legal opinion related to the shares of Common Stock issued in the offering, have been detailed in Exhibits attached to the Form 8-K filing with the Securities and Exchange Commission. This move is considered essential for the financial health and future growth outlook of Associated Banc-Corp.

The company’s commitment to this offering signifies a strategic effort to enhance its capital structure and potentially allocate these proceeds towards various opportunities, including business expansion, acquisitions, debt repayments, or general corporate purposes. The successful completion of this public offering underlines its positive market standing and investor confidence in its operations. This move may potentially contribute to the overall growth trajectory of Associated Banc-Corp.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Associated Banc’s 8K filing here.

About Associated Banc

Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses in Wisconsin, Illinois, and Minnesota. The company offers lending solutions, including commercial loans and lines of credit, commercial real estate financing, construction loans, letters of credit, leasing, asset based lending and equipment finance, loan syndications products, residential mortgages, home equity loans and lines of credit, personal and installment loans, auto finance and business loans, and business lines of credit.