WesBanco prices 9.2 million preferred depositary shares in $230 million offering
WesBanco priced an underwritten offering of 9,200,000 depositary shares representing interests in a new 7.375% Series B preferred stock, expected to raise about $230 million before closing on September 17, 2025. The company plans to use about $150 million to redeem its 6.75% Series A preferred stock and about $50 million to redeem its 4.0% 2030 subordinated notes, with the rest for general corporate purposes.
Key points
- Offering of 9,200,000 depositary shares, each a 1/40th interest in a $1,000 liquidation preference preferred share ($25 per depositary share)
- Dividends at 7.375% per year from September 17, 2025 to October 1, 2030, then reset at five-year treasury rate plus 3.795%
- About $150 million will redeem Series A preferred stock and about $50 million will redeem 2030 Notes assumed from Premier Financial Corporation
- Expected closing on or about September 17, 2025, subject to customary conditions
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:01 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on September 12, 2025.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.