EFFINGHAM, Ill., June 30, 2017 (GLOBE NEWSWIRE) -- Midland States Bancorp, Inc. (NASDAQ:MSBI) announced today that it has filed a universal shelf registration statement on Form S-3 with the Securities and Exchange Commission (SEC). The registration statement, once declared effective by the SEC, is intended to provide the Company with flexibility to access the capital markets in a timely manner.
Leon J. Holschbach, President and Chief Executive Officer of Midland, commented, “This registration statement is part of our long-term planning to support the continued implementation of our organic and acquisitive growth strategies.”
Under the shelf registration statement, once declared effective by the SEC, Midland may from time to time issue up to $165 million of its securities covered by the registration statement. In addition, the registration statement covers potential sales of shares of the Company’s common stock owned by an existing stockholder, as set forth in the registration statement. Currently, the Company has no specific plans to issue any securities under the registration statement. The specifics of any future offering, along with the prices and terms of any such securities offered by Midland, will be determined at the time of any such offering and will be described in detail in a prospectus supplement filed in connection with such offering.
The shelf registration statement relating to these securities has been filed with the SEC, but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which an offer, solicitation or sale would be unlawful prior to registration and qualification under the securities law of such jurisdiction. Any offering of the securities covered by the shelf registration statement will be made solely by means of a prospectus and, if required, an accompanying prospectus supplement relating to that offering. A copy of the prospectus included in the registration statement may be obtained on the SEC’s website at www.sec.gov or the Company’s investor relations website.
About Midland States Bancorp, Inc.
Midland States Bancorp, Inc. is a community-based financial holding company headquartered in Effingham, Illinois, and is the sole shareholder of Midland States Bank. Following the acquisition of Centrue Financial Corporation, Midland has assets of approximately $4.5 billion. Midland’s Wealth Management Group has assets under administration of approximately $1.9 billion. Midland provides a full range of commercial and consumer banking products and services, merchant credit card services, trust and investment management, and insurance and financial planning services. In addition, commercial equipment leasing services are provided through Heartland Business Credit, and multi-family and healthcare facility FHA financing is provided through Love Funding, Midland’s non-bank subsidiaries.
Special Note Concerning Forward-Looking Statements
Readers should note that this press release includes "forward-looking statements," including but not limited to statements about Midland’s capital planning, capital raising and growth strategies. These statements are subject to many risks and uncertainties, including changes in general economic, business and political conditions and financial markets; changes in business plans and other risks detailed from time to time in filings made by Midland with the SEC. Readers should note that the forward-looking statements included in this press release are not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "will," "propose," "may," "plan," "seek," "expect," "intend," "estimate," "anticipate," "believe" or "continue," or similar terminology. Any forward-looking statements presented herein are made only as of the date of this press release, and we do not undertake any obligation to update or revise any forward-looking statements to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise.
Source:Midland States Bancorp, Inc.