Taylor Capital (TAYC) Schedules Special Meeting and Reports $35 Million Rights Offering
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Taylor Capital Group, Inc. (NASDAQ: TAYC) announced today that it has filed a Prospectus Supplement to its Registration Statement on Form S-3 relating to a rights offering of $35.0 million of the Company's common stock.
The Company will distribute, on a pro rata basis, nontransferable subscription rights to purchase additional shares of stock to the holders of record of its common stock and certain other securities, as of 5:00 p.m., Eastern Time, on November 21, 2011. The subscription rights are exercisable beginning today and continuing until 5:00 p.m., Eastern Time, on December 14, 2011.
The Company also announced today that it has filed with the Securities and Exchange Commission a definitive proxy statement with respect to a special meeting of stockholders to be held at 9:00 a.m., Central Time, on December 27, 2011, on the ninth floor of the Company's executive offices located at 9550 West Higgins Road, Rosemont, Illinois, 60018. At the special meeting, stockholders will be asked to consider amendments to the terms of the Company's 8% Non-Cumulative, Convertible Perpetual Preferred Stock, Series C, and 8% Nonvoting, Non-Cumulative, Convertible Perpetual Preferred Stock, Series E, to provide the Company with the ability to convert the outstanding shares of such preferred stock into shares of the Company's common stock and Nonvoting Convertible Preferred Stock, Series G, respectively, on or before December 31, 2011.
The Company will distribute, on a pro rata basis, nontransferable subscription rights to purchase additional shares of stock to the holders of record of its common stock and certain other securities, as of 5:00 p.m., Eastern Time, on November 21, 2011. The subscription rights are exercisable beginning today and continuing until 5:00 p.m., Eastern Time, on December 14, 2011.
The Company also announced today that it has filed with the Securities and Exchange Commission a definitive proxy statement with respect to a special meeting of stockholders to be held at 9:00 a.m., Central Time, on December 27, 2011, on the ninth floor of the Company's executive offices located at 9550 West Higgins Road, Rosemont, Illinois, 60018. At the special meeting, stockholders will be asked to consider amendments to the terms of the Company's 8% Non-Cumulative, Convertible Perpetual Preferred Stock, Series C, and 8% Nonvoting, Non-Cumulative, Convertible Perpetual Preferred Stock, Series E, to provide the Company with the ability to convert the outstanding shares of such preferred stock into shares of the Company's common stock and Nonvoting Convertible Preferred Stock, Series G, respectively, on or before December 31, 2011.
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