GREEN
BAY, Wis., Nov. 14, 2024 /PRNewswire/ -- Associated
Banc-Corp ("Associated") (NYSE: ASB) today announced the pricing of
a public offering of 12,000,000 shares of its common stock,
$0.01 par value (the "Common Stock"),
at a public offering price of $25.00
per share, for aggregate gross proceeds of $300 million.
In addition, Associated Banc-Corp has granted the underwriters
an option to purchase up to an additional 1,800,000 shares of
its Common Stock for 30 days following the date of this pricing.
The offering is expected to close on November 18, 2024, subject to the satisfaction of
customary closing conditions.
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, Charlotte,
NC 28255 or by email at dg.prospectus_requests@bofa.com or
J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions,
1155 Long Island Avenue, Edgewood,
NY 11717 or by email at prospectus-eq_fi@jpmchase.com and
postsalemanualrequests@broadridge.com.
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 $42 billion
and is the largest bank holding company based in Wisconsin. Headquartered in Green Bay, Wisconsin, Associated is a leading
Midwest banking franchise, offering a full range of financial
products and services from nearly 200 banking locations serving
more than 100 communities throughout Wisconsin, Illinois and Minnesota. The company also operates loan
production offices in Indiana,
Michigan, Missouri, New
York, Ohio and Texas. Associated Bank, N.A. is an Equal
Housing Lender, Equal Opportunity Lender and Member FDIC.
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.
Investor Contact:
Ben
McCarville, Vice President, Director of Investor
Relations
920-491-7059
Media Contact:
Andrea
Kozek, Senior Manager, Public Relations
920-491-7518
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SOURCE Associated Banc-Corp