PITTSBURGH--(BUSINESS WIRE)--TriState Capital Holdings, Inc. (Nasdaq: TSC) (“TriState Capital”) announced that affiliates of Lovell Minnick Partners LLC (collectively, “Lovell Minnick”) have agreed to sell 2,678,049 shares of TriState Capital common stock in an underwritten public offering. Barclays Capital Inc. is acting as the sole book-running manager for the offering.
TriState Capital is not selling any stock in this transaction and will not receive any proceeds from the secondary offering.
Lovell Minnick funds have been equity investors in TriState Capital since August 2012. Following the offering, the Lovell Minnick funds will no longer hold shares in TriState Capital.
The shares are being offered pursuant to a shelf registration statement (File No. 333-222074) under the Securities Act of 1933, as amended, which has been filed with the Securities and Exchange Commission (the “SEC”) and was declared effective by the SEC on December 21, 2017. The offering is being made only by means of a prospectus supplement and accompanying prospectus. Potential purchasers of TriState Capital common stock should consider carefully the information contained in the preliminary prospectus supplement and the accompanying prospectus and other documents that TriState Capital has filed with the SEC that are incorporated by reference into the preliminary prospectus supplement for more complete information about TriState Capital and the offering. Copies of the registration statement, prospectus supplement and the accompanying prospectus relating to the offering may be obtained free of charge by visiting the SEC’s website at www.sec.gov, or may be obtained by contacting Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717; barclaysprospectus@broadridge.com (phone 888-603-5847).
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
ABOUT TRISTATE CAPITAL
TriState Capital Holdings, Inc. (Nasdaq: TSC) is a bank holding company headquartered in Pittsburgh, Pa., providing commercial banking, private banking and investment management services to middle-market companies, institutional clients and high-net-worth individuals. Its TriState Capital Bank subsidiary had $7.7 billion in assets, as of December 31, 2019, and serves middle-market commercial customers through regional representative offices in Pittsburgh, Philadelphia, Cleveland, Edison, N.J., and New York City, as well as high-net-worth individuals nationwide through its national referral network of financial intermediaries. Its Chartwell Investment Partners subsidiary had $9.7 billion in assets under management, as of December 31, 2019, and serves institutional clients and TriState Capital’s financial intermediary network.
FORWARD LOOKING STATEMENTS
This press release includes “forward-looking” statements as that term is defined in the Private Securities Litigation Reform Act of 1995, including with respect to the timing and size of the offering, which statements are subject to a number of risks, uncertainties and assumptions, including, but not limited to those that are described in the “Risk Factors” section of the preliminary prospectus supplement for this offering and the sections titled “Risk Factors,” “Cautionary Note Regarding Forward-Looking Statements” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” contained in TriState Capital’s most recent annual and quarterly reports filed on Form 10-K and Form 10-Q, as well as in other filings that TriState Capital makes with the SEC from time to time (which are available at www.sec.gov). The events and circumstances discussed in such forward-looking statements may not occur, and TriState Capital’s actual results could differ materially and adversely from those anticipated or implied thereby. Any forward-looking statements speak only as of the date of this press release and are based on information available to TriState Capital as of the date of this release.
