Byline Bancorp Prices 5.7M Share IPO at $19/Sh

Byline Bancorp, Inc. (NYSE: BY) today announced the pricing of its initial public offering of shares of its common stock at a public offering price of $19.00 per share. Of the 5,700,000 shares being sold in the offering, Byline is selling 3,775,194 shares, and certain selling stockholders are selling 1,924,806 additional shares. The shares are expected to begin trading on June 30, 2017 on the New York Stock Exchange under the ticker symbol “BY”. The closing of the offering is expected to occur on July 6, 2017, subject to the satisfaction of customary closing conditions.

In addition, Byline has granted the underwriters a 30-day option to purchase up to an additional 855,000 shares of its common stock at the initial public offering price, less the underwriting discount.

Byline intends to use the net proceeds that it receives from this offering to repay the outstanding balance under its line of credit, to repurchase its outstanding Series A Preferred Stock and for general corporate purposes.

BofA Merrill Lynch and Keefe, Bruyette & Woods are acting as joint book-running managers for the proposed offering. Piper Jaffray & Co., Sandler O’Neill + Partners, L.P. and Stephens Inc. are acting as co-managers.

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