Investment Banking - Triumph Bancorp, Inc.

Transactions | Banking

Client: Triumph Bancorp, Inc.
Industry: Banking
Transaction Type: Preferred Stock Offering
Role: Co-Manager

Boenning Served as Co-Manager for Triumph Bancorp, Inc., Preferred Stock Offering

  • Triumph Bancorp, Inc. (Nasdaq:TBK) (the “Company”) is a financial holding company headquartered in Dallas, Texas, with a diversified line of community banking, national lending, and commercial finance products. Its bank subsidiary, TBK Bank, SSB, is a Texas-state savings bank offering commercial and consumer banking products focused on meeting client needs in Texas, Colorado, Kansas, New Mexico, Iowa, and Illinois.
  • On June 19, 2020, the Company announced the completion of an underwritten public offering (the “Offering”) of depositary shares, each of which represents a 1/40th interest in a share of its 7.125% Series C Fixed-Rate Non-Cumulative Perpetual Preferred Stock, $1,000 liquidation preference per share (equivalent to $25.00 per depositary share).
  • The Company has also granted the underwriters an option, exercisable in whole or in part for 30 days, to purchase up to an additional 270,000 depositary shares at the public offering price, less the underwriting discount.
  • The Company has filed an application to list the depositary shares with the Nasdaq Global Select Market under the symbol “TBKCP.” If the application is approved, trading of the depositary shares is expected to begin within 30 days after the original issue date.
  • The Company intends to use the net proceeds of the Offering for general corporate purposes, which may include working capital and the funding of organic growth or potential acquisitions.
  • Boenning served as Co-Manager in the transaction.

View Form 8-K