Taylor Capital investors get common stock for all series A preferreds

By Devika Patel

Knoxville, Tenn., May 21 - Taylor Capital Group, Inc. reported that all 2.4 million of its series A preferred 3 shares were tendered as part of an exchange offer to swap the preferreds for common stock. The offer expired at 5 p.m. ET on May 12.

The preferreds will be retired and swapped for 7.2 million common shares, or 39.4% of the company's outstanding shares.

Wilmington Trust Co. was the exchange agent.

Taylor Capital is the Rosemont, Ill.-based holding company for Cole Taylor Bank, which is primary engaged in commercial banking.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.