Bridgewater Bancshares Inc (BWB): debt financing — Bridgewater Bancshares issues $80M of 7.625% sub notes due 2035, to redeem $50M of 5.25% notes

Bridgewater Bancshares Inc

Issued $80M aggregate principal of 7.625% Fixed-to-Floating Rate Subordinated Notes due 2035 at par.
Interest fixed at 7.625% through June 2030, then resets quarterly to 3-month SOFR + 388 bps.
Proceeds to redeem $50M of outstanding 5.25% Subordinated Notes due 2030 plus general corporate purposes.
Notes qualify as Tier 2 capital; redeemable in whole or part on/after June 30, 2030.
Private placement under Rule 506(b); Piper Sandler lead placement agent.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Bridgewater Bancshares Inc incurred senior notes of $80.0 million with certain institutional accredited investors and qualified institutional buyers at 7.625% Fixed-to-Floating Rate maturing June 30, 2035.

Instrument: senior notes
Principal: $80.0 million
Counterparty: certain institutional accredited investors and qualified institutional buyers
Rate: 7.625% Fixed-to-Floating Rate
Maturity: June 30, 2035
Event: incurrence

Exact text from the filing

On June 24, 2025, Bridgewater Bancshares, Inc. (the “Company”) entered into a Subordinated Note Purchase Agreement (the “Purchase Agreement”) with certain institutional accredited investors and qualified institutional buyers (the “Purchasers”) pursuant to which the Company sold and issued $80.0 million in aggregate principal amount of its 7.625% Fixed-to-Floating Rate Subordinated Notes due 2035 (the “Notes”).

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Source: SEC EDGAR

accession 0001558370-25-008830

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