QCR Holdings to sell 2.8 million common shares through public offering

Bookrunners Keefe Bruyette & Woods and Raymond James assist with deal

By Devika Patel

Knoxville, Tenn., May 4 – QCR Holdings, Inc. will sell 2.8 million common shares in a public sale with a 30-day greenshoe of 420,000 additional shares, according to a preliminary prospectus supplement, free writing prospectus and 8-K filed Monday with the Securities and Exchange Commission.

Keefe Bruyette & Woods, Inc. and Raymond James & Associates, Inc. are the bookrunners; FIG Partners, LLC and D.A. Davidson & Co. are the co-managers.

Proceeds will be used to repay $16.5 million of debt with First National Bank of Omaha, to redeem the company’s $2.7 million of outstanding 6% series A subordinated notes due Sept. 1, 2018 and to support subsidiary banks’ restructuring of long-term, high-cost, wholesale borrowings. Any remaining proceeds will be used for general corporate purposes, to accelerate organic growth, to pursue opportunistic acquisitions of similar or complementary financial services organizations and for other long-term strategic opportunities.

QCR is a bank holding company based in Moline, Ill.

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