TriState Capital Closes $105 Million Capital Raise, Issuing Common Equity, Convertible Preferred Stock and Warrants to Funds Managed by Stone Point Capital LLC
PITTSBURGH, December 30, 2020 (BUSINESS WIRE) —
TriState Capital Holdings, Inc. (Nasdaq: TSC) (“TriState Capital” or the “company”) on Wednesday completed its previously announced plans to raise $105 million in capital, pursuant to its October 10, 2020 definitive investment agreement with funds managed by Stone Point Capital LLC (“Stone Point”).
The company issued 2,770,083 shares of TriState Capital common stock to the Stone Point-managed funds for $40 million in the company’s first common equity raise since its 2013 initial public offering. Following the investment, these shares …