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Yahoo
4 days ago
- Business
- Yahoo
Byline Bancorp, Inc. Announces Commencement of Secondary Public Offering of Common Stock and Concurrent Share Repurchase
CHICAGO, June 10, 2025--(BUSINESS WIRE)--Byline Bancorp, Inc. ("Byline" or the "Company") (NYSE: BY) announced today that the Estate of Daniel L. Goodwin (the "Estate") and Equity Shares Investors, LLC, an affiliate of the Estate, the selling stockholders of the Company (the "Selling Stockholders"), are offering for sale to the public a total of 4,282,210 shares (the "Offered Shares") of the Company's common stock (the "Secondary Offering"). The Company is not offering or selling any shares of its common stock in the Secondary Offering and will not receive any proceeds from the sale of its shares of common stock in the Secondary Offering. In addition, the Company intends to purchase from the underwriter between $5 million and $10 million of the shares of common stock in the Secondary Offering (the "Share Repurchase"), at a price per share equal to the price per share to be paid by the underwriter to the Selling Stockholders. The Company intends to execute the Share Repurchase as part of its existing share repurchase program authorized on January 1, 2025. The underwriter will not receive any discount or commission in respect of the shares of common stock being purchased by the Company in the Share Repurchase. The Share Repurchase is conditioned upon the completion of the Secondary Offering, as well as the satisfaction of customary closing conditions, and is expected to close concurrently with the completion of the Secondary Offering. Certain of the Company's directors have indicated an interest in purchasing up to an aggregate $3.1 million in shares of common stock in the Secondary Offering at the public offering price and on the same terms as the other purchasers in the Secondary Offering. J.P. Morgan is serving as the sole underwriter for the Secondary Offering. An automatically effective shelf registration statement on Form S-3 relating to the shares of the Company's common stock subject to the Secondary Offering has been filed with the U.S. Securities and Exchange Commission (the "SEC") and is available on the SEC's website at The Secondary Offering will be made only by means of a prospectus supplement and accompanying prospectus that forms a part of the registration statement, copies of which may be obtained, when available, by request from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by email at prospectus-eq_fi@ and postsalemanualrequests@ This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended. About Byline Bancorp, Inc. Headquartered in Chicago, Byline Bancorp, Inc. is the parent company of Byline Bank, a full service commercial bank serving small- and medium-sized businesses, financial sponsors, and consumers. Byline Bank has approximately $9.6 billion in assets and operates 46 branch locations throughout the Chicago and Milwaukee metropolitan areas. Byline Bank offers a broad range of commercial and community banking products and services including small ticket equipment leasing solutions and is one of the top Small Business Administration lenders in the United States. Forward-Looking Statements This press release may contain "forward-looking statements" including statements concerning the size and terms of the Secondary Offering and the size and terms of the Share Repurchase. All statements other than statements of historical facts contained in this press release may be forward-looking statements. In some cases, you can identify the forward-looking statements by the use of words such as "may," "could," "should," "would," "expect," "plan," "anticipate," "intend," "forecast," "believe," "estimate," "predict," "propose," "potential," "continue," "scheduled," or the negative of these terms or other comparable terminology. These forward-looking statements involve many risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. These risks and uncertainties include but are not limited to those set forth in the periodic reports Byline files with the SEC and those described in the registration statement and the prospectus supplement and accompanying prospectus related to the Secondary Offering. All forward-looking statements included in this press release are made only as of the date of this press release. New factors emerge from time to time, and it is not possible for us to predict all of these factors. Further, we cannot assess the impact of each such factor on our business or the extent to which any factor, or combination of factors, may cause actual results to be materially different from those contained in any forward-looking statement. We expressly disclaim any obligation to update or revise any forward-looking statements, whether because of future events, new information, a change in our views or expectations, or otherwise. We make no prediction or statement about the performance of our common stock. View source version on Contacts Contact For Byline Bancorp, Inc.: Investors / Media: Brooks O. RennieHead of Investor RelationsByline Bank(312) 660-5805brennie@
Yahoo
4 days ago
- Business
- Yahoo
Byline Bancorp, Inc. Announces Commencement of Secondary Public Offering of Common Stock and Concurrent Share Repurchase
CHICAGO, June 10, 2025--(BUSINESS WIRE)--Byline Bancorp, Inc. ("Byline" or the "Company") (NYSE: BY) announced today that the Estate of Daniel L. Goodwin (the "Estate") and Equity Shares Investors, LLC, an affiliate of the Estate, the selling stockholders of the Company (the "Selling Stockholders"), are offering for sale to the public a total of 4,282,210 shares (the "Offered Shares") of the Company's common stock (the "Secondary Offering"). The Company is not offering or selling any shares of its common stock in the Secondary Offering and will not receive any proceeds from the sale of its shares of common stock in the Secondary Offering. In addition, the Company intends to purchase from the underwriter between $5 million and $10 million of the shares of common stock in the Secondary Offering (the "Share Repurchase"), at a price per share equal to the price per share to be paid by the underwriter to the Selling Stockholders. The Company intends to execute the Share Repurchase as part of its existing share repurchase program authorized on January 1, 2025. The underwriter will not receive any discount or commission in respect of the shares of common stock being purchased by the Company in the Share Repurchase. The Share Repurchase is conditioned upon the completion of the Secondary Offering, as well as the satisfaction of customary closing conditions, and is expected to close concurrently with the completion of the Secondary Offering. Certain of the Company's directors have indicated an interest in purchasing up to an aggregate $3.1 million in shares of common stock in the Secondary Offering at the public offering price and on the same terms as the other purchasers in the Secondary Offering. J.P. Morgan is serving as the sole underwriter for the Secondary Offering. An automatically effective shelf registration statement on Form S-3 relating to the shares of the Company's common stock subject to the Secondary Offering has been filed with the U.S. Securities and Exchange Commission (the "SEC") and is available on the SEC's website at The Secondary Offering will be made only by means of a prospectus supplement and accompanying prospectus that forms a part of the registration statement, copies of which may be obtained, when available, by request from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by email at prospectus-eq_fi@ and postsalemanualrequests@ This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended. About Byline Bancorp, Inc. Headquartered in Chicago, Byline Bancorp, Inc. is the parent company of Byline Bank, a full service commercial bank serving small- and medium-sized businesses, financial sponsors, and consumers. Byline Bank has approximately $9.6 billion in assets and operates 46 branch locations throughout the Chicago and Milwaukee metropolitan areas. Byline Bank offers a broad range of commercial and community banking products and services including small ticket equipment leasing solutions and is one of the top Small Business Administration lenders in the United States. Forward-Looking Statements This press release may contain "forward-looking statements" including statements concerning the size and terms of the Secondary Offering and the size and terms of the Share Repurchase. All statements other than statements of historical facts contained in this press release may be forward-looking statements. In some cases, you can identify the forward-looking statements by the use of words such as "may," "could," "should," "would," "expect," "plan," "anticipate," "intend," "forecast," "believe," "estimate," "predict," "propose," "potential," "continue," "scheduled," or the negative of these terms or other comparable terminology. These forward-looking statements involve many risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. These risks and uncertainties include but are not limited to those set forth in the periodic reports Byline files with the SEC and those described in the registration statement and the prospectus supplement and accompanying prospectus related to the Secondary Offering. All forward-looking statements included in this press release are made only as of the date of this press release. New factors emerge from time to time, and it is not possible for us to predict all of these factors. Further, we cannot assess the impact of each such factor on our business or the extent to which any factor, or combination of factors, may cause actual results to be materially different from those contained in any forward-looking statement. We expressly disclaim any obligation to update or revise any forward-looking statements, whether because of future events, new information, a change in our views or expectations, or otherwise. We make no prediction or statement about the performance of our common stock. View source version on Contacts Contact For Byline Bancorp, Inc.: Investors / Media: Brooks O. RennieHead of Investor RelationsByline Bank(312) 660-5805brennie@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
03-03-2025
- Business
- Yahoo
Rand Capital Announces $0.29 per Share Cash Dividend for First Quarter 2025
Reflects 15% increase in aggregate dividend amount distributed following recent stock issuance BUFFALO, N.Y., March 03, 2025--(BUSINESS WIRE)--Rand Capital Corporation (Nasdaq: RAND) ("Rand" or the "Company"), a business development company providing alternative financing for lower middle market companies, announced today that its Board of Directors declared a quarterly cash dividend of $0.29 per share. The cash dividend will be distributed on or about March 28, 2025, to shareholders of record as of March 14, 2025. Rand has approximately 3.0 million shares outstanding. Daniel P. Penberthy, President and CEO, commented, "In 2024, we reached several significant milestones that strengthened our ability to return capital to shareholders. Following our fourth quarter stock and cash dividend, we issued approximately 389,000 additional shares to investors. By maintaining our quarterly cash dividend at $0.29 per share, we are effectively delivering a 15% increase in total dividends distributed, demonstrating both the resilience of our business and our commitment to shareholder value. Looking ahead, we remain focused on sustainable dividend growth and long-term value creation." Additional Information Regarding Dividend Distributions The amount and timing of dividend distributions, including future dividend distributions, are subject to the discretion of Rand's Board of Directors. When declaring distributions, Rand's Board of Directors reviews estimates of taxable income available for distribution, which may differ from consolidated net income under generally accepted accounting principles due to (i) changes in unrealized appreciation and depreciation, (ii) temporary and permanent differences in income and expense recognition, and (iii) the amount of spillover income carried over from a given year for distribution in the following year. The final determination of taxable income for each tax year, as well as the tax attributes for distributions in such tax year, will be made after the close of the tax year. ABOUT RAND CAPITAL Rand Capital Corporation (Nasdaq: RAND) is an externally managed business development company (BDC). The Company's investment objective is to maximize total return to its shareholders with current income and capital appreciation by focusing its debt and related equity investments in privately-held, lower middle market companies with committed and experienced managements in a broad variety of industries. Rand primarily invests in businesses that have sustainable, differentiated and market-proven products, revenue of more than $10 million and EBITDA in excess of $1.5 million. The Company's investment activities are managed by its external investment adviser, Rand Capital Management, LLC. Additional information can be found at the Company's website where it regularly posts information: Safe Harbor Statement This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than historical facts, including but not limited to statements regarding the strategy of the Company and its outlook; statements regarding maintaining or increasing the Company's dividend; and any assumptions underlying any of the foregoing, are forward-looking statements. Forward-looking statements concern future circumstances and results and other statements that are not historical facts and are sometimes identified by the words "may," "will," "should," "potential," "intend," "expect," "endeavor," "seek," "anticipate," "estimate," "overestimate," "underestimate," "believe," "could," "project," "predict," "continue," "target" or other similar words or expressions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove to be incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. The inclusion of such statements should not be regarded as a representation that such plans, estimates or expectations will be achieved. Important factors that could cause actual results to differ materially from such plans, estimates or expectations include, among others, (1) evolving legal, regulatory and tax regimes; (2) changes in general economic and/or industry specific conditions; and (3) other risk factors as detailed from time to time in Rand's reports filed with the Securities and Exchange Commission ("SEC"), including Rand's annual report on Form 10-K for the year ended December 31, 2023, quarterly reports on Form 10-Q, and other documents filed with the SEC. Consequently, such forward-looking statements should be regarded as Rand's current plans, estimates and beliefs. Except as required by applicable law, Rand assumes no obligation to update the forward-looking information contained in this release. View source version on Contacts Company: Daniel P. PenberthyPresident and CEO716.853.0802dpenberthy@ Investors: Deborah K. Pawlowski / Craig P. MychajlukAlliance Advisors IR716-843-3908 / 716-843-3832dpawlowski@ /cmychajluk@ Sign in to access your portfolio
