Wintrust Financial in Rosemont, Ill., is planning to raise about $160 million through a common stock offering.

The $23 billion-asset company said in a press release Wednesday that it will sell 3 million shares of its common stock. Wintrust did not disclose an expected price range, though the company's stock closed Wednesday at $53.78 a share.

Wintrust said it plans to use process from the offering for general corporate purposes that could include acquisitions, investments at the holding company level and reducing or refinancing debt.

Raymond James is the offering's underwriter.

Wintrust has been an active acquirer around Chicago in recent years, typically preferring smaller deals in strategic suburbs.

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