Byline Bancorp, Inc. Announces Closing of Secondary Public Offering of Common Stock and Concurrent Share Repurchase
Byline Bancorp, Inc. ("Byline" or the "Company") (NYSE:BY) announced today the closing of the previously announced public offering (the "Secondary Offering") of a total of 4,282,210 shares of the Company's common stock (the "Offered Shares") by the Estate of Daniel L. Goodwin (the "Estate") and Equity Shares Investors, LLC, an affiliate of the Estate, as selling stockholders of the Company (the "Selling Stockholders"), at a public offering price of $24.75 per share.
The Company did not offer or sell any shares of its common stock in the Secondary Offering and did not receive any proceeds from the sale of its shares of common stock in the Secondary Offering.
In addition, in connection with the Company's previously announced intention to purchase shares in the Secondary Offering, the Company purchased 418,235 shares from the underwriter in the Secondary Offering (the "Share Repurchase"), at a price per share equal to the price per share paid by the underwriter to the Selling Stockholders. The Company executed the Share Repurchase as part of its existing share repurchase program authorized on January 1, 2025. Certain of the Company's directors purchased an aggregate of $1.27 million of the shares of common stock in the Secondary Offering at the public offering price and on the same terms as the other purchasers in the Secondary Offering.
J.P. Morgan is serving as the Sole Underwriter for the Secondary Offering.
An automatically effective shelf registration statement on Form S-3 relating to the shares of the Company's common stock subject to the Secondary Offering was filed with the U.S. Securities and Exchange Commission (the "SEC") and is available on the SEC's website at www.sec.gov. The Secondary Offering was made only by means of a prospectus supplement and accompanying prospectus that forms a part of the registration statement, copies of which may be obtained, when available, by request from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by email at [email protected] and [email protected].
This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, 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. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended.
About Byline Bancorp, Inc.
Headquartered in Chicago, Byline Bancorp, Inc. is the parent company of Byline Bank, a full service commercial bank serving small- and medium-sized businesses, financial sponsors, and consumers. Byline Bank has approximately $9.6 billion in assets as of March 31, 2025 and operates 45 branch locations throughout the Chicago and Milwaukee metropolitan areas. Byline Bank offers a broad range of commercial and community banking products and services including small ticket equipment leasing solutions and is one of the top Small Business Administration lenders in the United States.
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Investors / Media:
Brooks O. Rennie
Head of Investor Relations
Byline Bank
(312) 660-5805
[email protected]