CHICAGO--(BUSINESS WIRE)--Byline Bancorp, Inc. (“Byline” or the “Company”) today announced the launch of its initial public offering of shares of its common stock. Of the 5,700,000 shares of Byline’s common stock to be sold in the offering, Byline is offering 3,775,194 shares and certain selling stockholders are offering 1,924,806 shares. Byline expects to grant the underwriters a 30-day option to purchase up to an additional 855,000 shares of its common stock. The initial public offering price is currently expected to be between $19.00 and $21.00 per share of common stock. Byline’s common stock has been approved for listing on the New York Stock Exchange (NYSE) under the ticker symbol “BY,” subject to official notice of issuance.
Byline intends to use the net proceeds that it receives from this offering to repay the outstanding balance under its line of credit, to repurchase, subject to regulatory approval, its outstanding Series A Preferred Stock, and for general corporate purposes.
BofA Merrill Lynch and Keefe, Bruyette & Woods are acting as joint book-running managers for the proposed offering. Piper Jaffray & Co., Sandler O’Neill + Partners, L.P. and Stephens Inc. are acting as co-managers.
The proposed offering will be made only by means of a prospectus. Copies of the preliminary prospectus may be obtained from: BofA Merrill Lynch, attention: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, NC 28255-0001, or by email at email@example.com; or Keefe, Bruyette & Woods, Inc., Attention: Equity Capital Markets, 787 Seventh Avenue, 4th Floor, New York, NY 10019; or by calling Keefe, Bruyette & Woods, Inc. toll-free at (800) 966-1559.
A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission (the “SEC”), but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. 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 these securities 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.
About Byline Bancorp, Inc.
Headquartered in Chicago, Byline is the holding company for Byline Bank, a full service commercial bank serving small- and medium-sized businesses, financial sponsors, and consumers. Byline Bank had $3.3 billion in assets at March 31, 2017, and operates more than 50 full service branch locations throughout the Chicago metropolitan area. Byline Bank offers a broad range of commercial and retail banking products and services including small ticket equipment leasing solutions and is one of the top 10 Small Business Administration lenders in the United States.
Forward Looking Statements
This communication contains forward-looking statements within the meaning of the U.S. federal securities laws. Forward-looking statements include, without limitation, statements concerning plans, estimates, calculations, forecasts and projections with respect to the anticipated future performance of the Company. These statements are often, but not always, made through the use of words or phrases such as ‘‘may’’, ‘‘might’’, ‘‘should’’, ‘‘could’’, ‘‘predict’’, ‘‘potential’’, ‘‘believe’’, ‘‘expect’’, ‘‘continue’’, ‘‘will’’, ‘‘anticipate’’, ‘‘seek’’, ‘‘estimate’’, ‘‘intend’’, ‘‘plan’’, ‘‘projection’’, ‘‘would’’, ‘‘annualized’’, “target” and ‘‘outlook’’, or the negative version of those words or other comparable words or phrases of a future or forward-looking nature. Forward-looking statements reflect various assumptions and involve elements of subjective judgement and analysis which may or may not prove to be correct and which are subject to uncertainties and contingencies outside the control of Byline and its respective affiliates, directors, employees and other representatives, which could cause actual results to differ materially from those presented in this communication. No representations, warranties or guarantees are or will be made by Byline as to the reliability, accuracy or completeness of any forward-looking statements contained in this communication or that such forward-looking statements are or will remain based on reasonable assumptions. You should not place undue reliance on any forward-looking statements contained in this communication.
We have filed a registration statement on Form S-1 (including a preliminary prospectus) with the SEC for the offering to which this communication relates. Before making any investment decision, investors are urged to carefully read the preliminary prospectus in that registration statement, any amendments or supplements to the preliminary prospectus, and other documents we have filed with the SEC for more complete information about us and the proposed offering. Investors may obtain the registration statement and prospectus free of charge from the SEC’s website at www.sec.gov.