KANSAS CITY, Mo.--(BUSINESS WIRE)-- UMB Financial Corporation (Nasdaq: UMBF) has announced the pricing of an underwritten public offering of 12,000,000 depositary shares. Each depositary share represents a 1/400th ownership interest in a share of its 7.750% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series B, with a par value of $0.01 per share. The Series B Preferred Stock comes with a liquidation preference of $10,000 per share, equivalent to $25 per depositary share. The offering is expected to close on June 12, 2025, subject to customary conditions. UMB has applied to list the depositary shares on The Nasdaq Global Select Market under the symbol "UMBFO." UMB estimates that the net proceeds from this offering, after accounting for underwriting discounts and estimated offering expenses, will be approximately $294,529,000. The company plans to use the net proceeds for general corporate purposes, which may include redemption of its existing Series A preferred stock and certain subordinated notes. For more details, the final prospectus supplement and accompanying prospectus will be available on the SEC's website at https://www.sec.gov.
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