Associated Banc-Corp Prices Public Offering Of 12 Mln Shares At $25.00/shr

(RTTNews) - Associated Banc-Corp (ASB) said that it has priced a public offering of 12 million shares of its common stock, $0.01 par value, 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 1.80 million shares of its Common Stock for 30 days following the date of this pricing. The offering is expected to close on November 18, 2024.

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.