Wintrust forces conversion of 5% perpetual convertible preferreds

By Susanna Moon

Chicago, April 17 – Wintrust Financial Corp. said that all of its outstanding 5% non-cumulative perpetual convertible preferred stock, series C, will be mandatorily converted on April 27.

On the mandatory conversion date, 126,257 shares of the series C preferreds will be converted to shares of the company’s common stock, according to a company notice.

Holders will receive 24.72 common shares for each preferred with cash to be paid for fractional shares.

The last dividend for the preferreds will be paid Monday to holders of record on April 1.

Wintrust is a Rosemont, Ill.-based financial holding company.

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