Western Alliance subsidiary BW to issue $300M of 9.5% preferred stock for tax efficiency

WESTERN ALLIANCE BANCORPORATION

BW Real Estate issues 300K shares of 9.500% Series B Preferred, $1,000 liquidation preference; net proceeds ~$294.75M.
Preferred automatically exchangeable for WAB Series A preferred upon Federal Reserve directive; redeemable on/after March 30, 2030.
Joint bookrunners: J.P. Morgan, MUFG, Keefe Bruyette & Woods; closing expected March 27, 2025.
Interest on Series B is deductible at REIT level, creating tax efficiencies for Western Alliance Bank and parent.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.