Byline Bancorp Completes $124.5 Million Initial Public OfferingJuly 6, 2017
S&C client Byline Bancorp, Inc. completed the sale of 6,555,000 shares of common stock in its initial public offering at a public offering price of $19 per share, for a total offering size of $124.5 million. 4,630,194 shares were issued and sold by Byline, and 1,924,806 shares were sold by certain selling stockholders. Prior to its initial public offering, Byline reincorporated from Illinois to Delaware by way of a subsidiary merger. Completion of the reincorporation and the IPO required various approvals from the Federal Reserve. Byline now trades on the New York Stock Exchange under the symbol BY.
Headquartered in Chicago, Byline Bancorp, Inc. is the holding company for Byline Bank, a full service commercial bank serving small- and medium-sized businesses, financial sponsors and consumers. Byline Bank has approximately $3.3 billion in assets and operates more than 50 full service branch locations throughout the Chicago and Milwaukee metropolitan areas. Byline Bank offers a broad range of commercial and retail banking products and services, including small ticket equipment leasing solutions and is one of the top 10 Small Business Administration lenders in the United States.
The S&C team was led by Donald Toumey and Catherine Clarkin, along with Steven Borenstein, Daniel Wolf, Amy Dreisiger and Lindsey Chandler. David Spitzer and David Simins advised on tax matters; Heather Coleman, Joshua Lerner and Kelly Yamashita advised on executive compensation and benefits matters; and Tracey Russell advised on FINRA-related matters.