Northpointe Bancshares, Inc. Closes Non-Cumulative Perpetual Preferred Stock Offering

Northpointe Bancshares, Inc. Closes Non-Cumulative Perpetual Preferred Stock Offering

  • Posted: 12/30/2020
  • Jennifer Lian

GRAND RAPIDS, Mich., December 30, 2020 (Newswire.com) – Northpointe Bancshares, Inc. (“Northpointe”), parent company of Northpointe Bank, announced today that it has completed a private placement of 3,800,000 depositary shares, each representing a 1/40th interest in a share of its 8.25% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series A, to certain qualified institutional buyers and accredited investors. Each preferred share has a liquidation preference of $1,000, equivalent to $25 per depositary share.

Follow this link to continue reading this news story