QCR Holdings in Moline, Ill., will sell 2.8 million shares in a public offering.

The $2.5 billion-asset company said in a press release that proceeds from the offering will be used to repay certain debt obligations, to support the restructure of certain long-term wholesale borrowings and structured repurchase transactions and for other corporate purposes. QCR did not list a price for the offering in its announcement Monday, though it could bring in more than $52 million based on the company's current stock price.

QCR will grant underwriters of the offering a 30-day option to buy 15% more of the shares sold in the transaction.

 

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