Business Context and Reporting Period
Company: Associated Banc-Corp
Filing Type: Form 8-K (Current Report)
Date of Report: June 1, 2015
Event: Depositary Share Offering (Item 8.01)
Key Financial Metrics
This filing reports a capital raising event rather than periodic financial performance. Specific metrics include:
- Instrument: 6.125% Non-Cumulative Perpetual Preferred Stock, Series C.
- Offering Size: 2,600,000 depositary shares.
- Underlying Interest: Each depositary share represents a 1/40 interest in a share of Preferred Stock.
- Liquidation Preference: $1,000 per share of Preferred Stock.
- Underwriters: UBS Securities LLC and Citigroup Global Markets Inc. (as representatives).
Note: The filing text does not provide values for revenue, profit, cash flow, margins, debt, or liquidity.
Material Changes
The primary material change is the execution of an underwriting agreement on June 1, 2015, to issue the Preferred Stock Offering. This filing incorporates the Underwriting Agreement by reference into the Company's Registration Statement on Form S-3 (Registration No. 333-202836).
Guidance, Outlook, and Risks
Management Commentary: The filing states that the description of the Underwriting Agreement is not complete and is qualified in its entirety by reference to the attached Exhibit 1.1.
Risks and Contingencies: No specific risks or contingencies are detailed in the text of this 8-K summary; investors are directed to the Prospectus Supplement dated June 1, 2015, and the Prospectus dated March 17, 2015, for full details.
Investor Verification Checklist
- Verify the total gross proceeds from the sale of the 2,600,000 depositary shares in the Prospectus Supplement.
- Review the Underwriting Agreement (Exhibit 1.1) for specific terms, underwriting discounts, and conditions.
- Confirm the impact of the new Preferred Stock issuance on the company's capital structure and dividend obligations.
- Check the Registration Statement on Form S-3 (No. 333-202836) for the full prospectus details.