June 19, 2020 — Triumph Bancorp, Inc. (Nasdaq:TBK) has announced an underwritten public offering of preferred stock.
The offering of depository shares represents a 1/40th interest in a share of its Series C Fixed-Rate Non-Cumulative Perpetual Preferred Stock. The $1,000 liquidation preference per share is equivalent to $25.00 per depositary share.
Triumph Bancorp, Inc. intends to grant the underwriters an option to purchase additional depositary shares for 30 days. The proposed offering is subject to pricing, which has not occurred. The Company intends to use the net proceeds of the offering for general corporate purposes.
The team from Janney’s Financial Institutions Group included Matthew Veneri, Head of Investment Banking; Greg Gersack, Head of Equity Capital Markets; Lozan Aleksandrov, Managing Director; Jerad Comarda, Director; and Jason Werner, Director.
Triumph Bancorp Inc.’s press release is available here.
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