Wintrust raises $248M by selling common stock

Wintrust Financial in Rosemont, Ill., has raised $248.4 million through a common stock offering. 

The $50.3 billion-asset Wintrust sold about 3 million shares of stock at $86 each. 

The company said it could use the net proceeds for a variety of purposes, including providing capital to support growth, acquisitions and reducing or refinancing debt. 

RBC Capital Markets and Raymond James, the underwriters, have a 30-day option to sell another 450,000 shares.