Old Second to sell 13.5 million common shares through public offering

Deal funds interest payment, dividend payment, preferreds redemption

By Devika Patel

Knoxville, Tenn., March 26 - Old Second Bancorp, Inc. said it will sell 13.5 million common shares in a public offering with a 30-day greenshoe of 2,025,000 additional shares. The deal was announced Jan. 17.

Keefe, Bruyette & Woods is the bookrunning manager, and Sandler O'Neill + Partners, LP and FIG Partners, LLC are the co-managers.

Proceeds will be used to pay interest on trust preferred securities, to pay dividends on the series B preferred stock, to repurchase a portion of the series B preferred stock and for general corporate purposes.

Old Second is an Aurora, Ill., bank holding company.

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