UMB Financial Prices 2.8 Mln Share Offering At $75/Share

(RTTNews) - UMB Financial Corp. (UMBF) announced on Monday the pricing of 2,800,000 share offering at $75.00 per share.

This is expected to generate approximately $201.6 million in net proceeds.

UMB will not receive any proceeds from the sale of shares by forward sellers. "UMB intends to use any net proceeds that it receives upon physical settlement of the forward sale agreement and the additional forward sale agreement, if any, for general corporate purposes, which may include, among other uses, contributing Tier 1 capital into UMB Bank."

The underwriters have the option to buy up to 420,000 additional shares.

The closing of the offering is anticipated on May 1, 2024, pending the fulfillment of standard conditions.