This is a standard resale registration for shares issued in the American National acquisition — not a new equity offering. Monitor for any prospectus supplements that could indicate an accelerated sell-down by the Kotouc Group or Lozier Trust, which could create near-term overhang on ASB common stock. No direct impact on ASB-PF preferred shares.
Price Chart
Executive Summary
Associated Banc-Corp filed an automatic shelf registration statement (S-3ASR) to register up to 22,478,042 shares of common stock for resale by selling shareholders — the Kotouc Group and the Dianne S. Lozier ANC Stock Holding Trust. These shares were originally issued in the November 2025 acquisition of American National Corporation. The company will not receive any proceeds from the resale. This is a routine registration of shares held by legacy American National shareholders, not a new capital raise or dilutive offering by the company.
Key Facts
- Registers up to 22,478,042 shares of common stock for resale by selling shareholders
- Shares were issued in connection with the acquisition of American National Corporation (November 30, 2025)
- Selling shareholders: Kotouc Group (10,648,000 shares, 5.6% pre-offering) and Dianne S. Lozier ANC Stock Holding Trust (11,830,042 shares, 6.3% pre-offering)
- Company will not receive any proceeds from the resale
- Maximum aggregate offering price estimated at $628,935,615.16 based on May 28, 2026 closing price of $27.83
- 188,608,395 shares of common stock outstanding as of May 28, 2026
Financial Impact
Up to $628.9M in common stock registered for resale by selling shareholders; no proceeds to the company
Risk Factors
- Potential overhang from selling shareholders liquidating positions over time
- No lock-up or volume restrictions disclosed on the resale
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 8 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| S-3ASR Filing (Primary) | 0001193125-26-253884 |
| Document: d228025dexfilingfees.htm | 0001193125-26-253884 |
| Document: d228025dex241.htm | 0001193125-26-253884 |
| Document: d228025dex51.htm | 0001193125-26-253884 |
| Document: d228025dex231.htm | 0001193125-26-253884 |
| Document: 0001193125-26-253884-index-headers.html | 0001193125-26-253884 |
| Document: 0001193125-26-253884-index.html | 0001193125-26-253884 |
| Document: 0001193125-26-253884.txt | 0001193125-26-253884 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 23, 2026 3d ago | Institutional Cluster | $30.21 | awaiting T+20 | — | $30.23 (+0.07%) |
Oct 22, 2026 4d ago | 8-K | $30.21 | awaiting T+20 | — | $30.23 (+0.07%) |
Oct 22, 2026 4d ago | Press Release | $30.21 | awaiting T+20 | — | $30.23 (+0.07%) |
Oct 1, 2026 25d ago | Press Release | $29.00 | awaiting T+20 | — | $30.23 (+4.24%) |
Sep 14, 2026 6w ago | 8-K | $30.32 $28.56 | ▼ −5.80% | ▼ −8.53% | $30.23 (−0.30%) |
Sep 2, 2026 7w ago | Press Release | $30.91 $29.00 | ▼ −6.18% | ▼ −4.99% | $30.23 (−2.20%) |
Aug 13, 2026 10w ago | Insider Cluster | $32.16 $30.04 | ▼ −6.59% | ▼ −4.84% | $30.23 (−6.00%) |
Aug 13, 2026 10w ago | Insider Cluster | $32.16 $30.04 | ▼ −6.59% | ▼ −4.84% | $30.23 (−6.00%) |
Aug 13, 2026 10w ago | Insider Cluster | $32.16 $30.04 | ▼ −6.59% | ▼ −4.84% | $30.23 (−6.00%) |
Aug 5, 2026 11w ago | Insider Cluster | $31.53 $30.58 | ▼ −3.01% | ▼ −2.41% | $30.23 (−4.12%) |
US Market Status
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