First Busey closes public offering of 8.6M depositary shares for 8.25% Series B Preferred, netting $207.5M

FIRST BUSEY CORP /NV/

Issued 8,600,000 depositary shares, each representing 1/40th interest in a share of 8.25% Series B Non-Cumulative Perpetual Preferred Stock (liquidation preference $1,000 per share).
Net proceeds of approximately $207.5 million after underwriting discounts and estimated expenses.
Joint bookrunning managers: Piper Sandler, Morgan Stanley, Keefe Bruyette & Woods; co-manager: Janney Montgomery Scott.
Company also notes anticipated merger of CrossFirst Bank into Busey Bank on June 20, 2025.

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