Taylor Capital Group Announces $25M Capital Raise

Taylor Capital Group, Inc. TAYC today announced that it has entered into definitive agreements to sell $25 million of a new series of convertible preferred stock to existing investors, including substantial investments from directors Harrison Steans, Jennifer Steans and Bruce Taylor and also from Tom Brown on behalf of Second Curve Capital. Upon stockholder approval, the preferred stock will automatically convert into shares of the Company's common stock at a conversion price of $10.00 per share. The Company plans to obtain stockholder approval to convert the preferred stock into common stock at the Company's 2011 annual meeting of stockholders, which is scheduled for the second quarter of 2011.