0001193125-17-206396.txt : 20170619
20170619061714
S-1/A
S-1/A
S-1/A
STATE COMMERCIAL BANKS
6022
000119312517206396
38
BYLINE BANCORP, INC.
>0001193125-17-206396.hdr.sgml : 20170619
20170619
<SEC-HEADER>0001193125-17-206396.hdr.sgml : 20170619
<ACCEPTANCE-DATETIME>20170619061714
ACCESSION NUMBER:		0001193125-17-206396
CONFORMED SUBMISSION TYPE:	S-1/A
PUBLIC DOCUMENT COUNT:		38
FILED AS OF DATE:		20170619
DATE AS OF CHANGE:		20170619

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BYLINE BANCORP, INC.
		CENTRAL INDEX KEY:			0001702750
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		IRS NUMBER:				363012593

	FILING VALUES:
		FORM TYPE:		S-1/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-218362
		FILM NUMBER:		17917446

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		773-244-7000

	MAIL ADDRESS:	
		STREET 1:		180 NORTH LASALLE STREET, SUITE 300
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60601
</SEC-HEADER>
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>9
<FILENAME>d316756dex102.htm
<DESCRIPTION>EX-10.2
<TEXT>
<HTML><HEAD>
<TITLE>EX-10.2</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.2 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>WAIVER LETTER </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:56%; font-size:10pt; font-family:Times New Roman" ALIGN="center">June&nbsp;7, 2017 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">THE
PRIVATEBANK AND TRUST COMPANY </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">120 S. LaSalle St. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Chicago,
Illinois 60603 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Attention: Kevin Kehoe, Managing Director </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ladies and Gentlemen: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Reference is made to the
Revolving Credit Agreement, dated October&nbsp;13, 2016 (the <I>&#147;</I><U>Credit Agreement</U><I>&#148;</I>), between Byline Bancorp, Inc., an Illinois corporation, as borrower (&#147;<U>Byline Illinois</U>&#148;) and The PrivateBank and Trust
Company, as lender (the &#147;<U>Lender</U>&#148;). Capitalized terms used but not defined in this letter shall have the meanings given to such terms in the Credit Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Byline Illinois proposes to enter into a reincorporation merger (the &#147;<U>Merger</U>&#148;) pursuant to which it will reincorporate in the
State of Delaware by merging with and into Byline Bancorp, Inc., a Delaware corporation and wholly owned subsidiary of Byline Illinois (&#147;<U>Byline Delaware</U>,&#148; and following the Merger, the &#147;<U>Company</U>&#148;), with common
shareholders of Byline Illinois receiving one (1)&nbsp;share of common stock, par value $0.01 per share, (the &#147;Common Stock&#148;) of Byline Delaware for every five (5)&nbsp;shares of common stock, no par value, of Byline Illinois held by each
holder, plus cash to be paid in lieu of any fractional shares. As part of the Merger, each share of Noncumulative Perpetual Preferred Stock, Series E, of Byline Illinois will be exchanged for one share of Noncumulative Perpetual Preferred Stock,
Series A of Byline Delaware (the &#147;<U>Series A Preferred Stock</U>&#148;), with substantially the same rights and privileges, and each share of 7.50% Fixed to Floating Noncumulative Perpetual Preferred Stock, Series F, of Byline Illinois, will
be exchanged for one share of 7.50% Fixed to Floating Noncumulative Perpetual Preferred Stock, Series B, of Byline Delaware (the &#147;<U>Series B Preferred Stock</U>&#148;), with substantially the same rights and privileges. Following the
consummation of the Merger, the amended and restated certificate of incorporation and amended and restated bylaws of Byline Delaware will be the governing documents of the Company. Following the Merger, the Company intends to issue and sell shares
of its Common Stock in an initial public offering (the &#147;<U>IPO</U>&#148;), registered with the Securities and Exchange Commission. In connection with the IPO, subject to regulatory approval, the Company intends to repurchase all (or a portion
of) the outstanding shares of Series A Preferred Stock for cash, based on the price to public per share of Common Stock in the IPO. The transactions described in and contemplated by this paragraph are referred to as the
&#147;<U>Transactions</U>.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company also proposes to pay dividends on the Series B Preferred Stock, when and if declared by its
board of directors, in accordance with the terms of the Series B Preferred Stock and, only if the IPO occurs, the Company may in the future elect to pay dividends to holders of its Common Stock (such dividends on the Series B Preferred Stock and the
Common Stock, the &#147;<U>Dividends</U>&#148;). </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to Sections 10 and 13.1 of the Credit Agreement, the Company hereby requests that the
Lender consent to the Company (i)&nbsp;entering into the Transactions and (ii)&nbsp;making any Dividends payments, and the Company requests that the Lender waive the restrictions set forth in Section&nbsp;10 of the Credit Agreement, including, but
not limited to, Sections 10.2, 10.3, 10.5, 10.6 and 10.7, but only to the extent they impact the Transactions and Dividends payments provided above and not otherwise. In addition, following the consummation of the Merger, references in the Credit
Agreement to the &#147;<U>Borrower</U>&#148; shall be deemed to refer to the &#147;<U>Company</U>.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Except for the waiver and
consent set forth above, the text of the Credit Agreement shall remain unchanged and in full force and effect. This Waiver Letter may be executed in separate counterparts, each of when so executed shall constitute one and the same agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><I>(Signature page follows) </I></P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This letter shall be construed in accordance with and governed by the law of the State of
Illinois. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="80%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5">Very truly yours,</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="5"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5">BYLINE BANCORP, INC.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Alberto J. Paracchini</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Alberto J. Paracchini</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">President</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="5"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5">Acknowledged and Agreed as of</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5">June&nbsp;13, 2017:</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="5"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5">THE PRIVATEBANK AND TRUST COMPANY</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Kevin Kehoe</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Kevin Kehoe</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Group Head, Correspondent Banking</TD></TR>
</TABLE></DIV>
</BODY></HTML>
</TEXT>
</DOCUMENT>
EX-10.2
9
d316756dex102.htm
EX-10.2
EX-10.2
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>9
<FILENAME>d316756dex102.htm
<DESCRIPTION>EX-10.2
<TEXT>
<HTML><HEAD>
<TITLE>EX-10.2</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.2 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>WAIVER LETTER </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:56%; font-size:10pt; font-family:Times New Roman" ALIGN="center">June&nbsp;7, 2017 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">THE
PRIVATEBANK AND TRUST COMPANY </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">120 S. LaSalle St. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Chicago,
Illinois 60603 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Attention: Kevin Kehoe, Managing Director </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ladies and Gentlemen: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Reference is made to the
Revolving Credit Agreement, dated October&nbsp;13, 2016 (the <I>&#147;</I><U>Credit Agreement</U><I>&#148;</I>), between Byline Bancorp, Inc., an Illinois corporation, as borrower (&#147;<U>Byline Illinois</U>&#148;) and The PrivateBank and Trust
Company, as lender (the &#147;<U>Lender</U>&#148;). Capitalized terms used but not defined in this letter shall have the meanings given to such terms in the Credit Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Byline Illinois proposes to enter into a reincorporation merger (the &#147;<U>Merger</U>&#148;) pursuant to which it will reincorporate in the
State of Delaware by merging with and into Byline Bancorp, Inc., a Delaware corporation and wholly owned subsidiary of Byline Illinois (&#147;<U>Byline Delaware</U>,&#148; and following the Merger, the &#147;<U>Company</U>&#148;), with common
shareholders of Byline Illinois receiving one (1)&nbsp;share of common stock, par value $0.01 per share, (the &#147;Common Stock&#148;) of Byline Delaware for every five (5)&nbsp;shares of common stock, no par value, of Byline Illinois held by each
holder, plus cash to be paid in lieu of any fractional shares. As part of the Merger, each share of Noncumulative Perpetual Preferred Stock, Series E, of Byline Illinois will be exchanged for one share of Noncumulative Perpetual Preferred Stock,
Series A of Byline Delaware (the &#147;<U>Series A Preferred Stock</U>&#148;), with substantially the same rights and privileges, and each share of 7.50% Fixed to Floating Noncumulative Perpetual Preferred Stock, Series F, of Byline Illinois, will
be exchanged for one share of 7.50% Fixed to Floating Noncumulative Perpetual Preferred Stock, Series B, of Byline Delaware (the &#147;<U>Series B Preferred Stock</U>&#148;), with substantially the same rights and privileges. Following the
consummation of the Merger, the amended and restated certificate of incorporation and amended and restated bylaws of Byline Delaware will be the governing documents of the Company. Following the Merger, the Company intends to issue and sell shares
of its Common Stock in an initial public offering (the &#147;<U>IPO</U>&#148;), registered with the Securities and Exchange Commission. In connection with the IPO, subject to regulatory approval, the Company intends to repurchase all (or a portion
of) the outstanding shares of Series A Preferred Stock for cash, based on the price to public per share of Common Stock in the IPO. The transactions described in and contemplated by this paragraph are referred to as the
&#147;<U>Transactions</U>.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company also proposes to pay dividends on the Series B Preferred Stock, when and if declared by its
board of directors, in accordance with the terms of the Series B Preferred Stock and, only if the IPO occurs, the Company may in the future elect to pay dividends to holders of its Common Stock (such dividends on the Series B Preferred Stock and the
Common Stock, the &#147;<U>Dividends</U>&#148;). </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to Sections 10 and 13.1 of the Credit Agreement, the Company hereby requests that the
Lender consent to the Company (i)&nbsp;entering into the Transactions and (ii)&nbsp;making any Dividends payments, and the Company requests that the Lender waive the restrictions set forth in Section&nbsp;10 of the Credit Agreement, including, but
not limited to, Sections 10.2, 10.3, 10.5, 10.6 and 10.7, but only to the extent they impact the Transactions and Dividends payments provided above and not otherwise. In addition, following the consummation of the Merger, references in the Credit
Agreement to the &#147;<U>Borrower</U>&#148; shall be deemed to refer to the &#147;<U>Company</U>.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Except for the waiver and
consent set forth above, the text of the Credit Agreement shall remain unchanged and in full force and effect. This Waiver Letter may be executed in separate counterparts, each of when so executed shall constitute one and the same agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><I>(Signature page follows) </I></P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This letter shall be construed in accordance with and governed by the law of the State of
Illinois. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="80%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5">Very truly yours,</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="5"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5">BYLINE BANCORP, INC.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Alberto J. Paracchini</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Alberto J. Paracchini</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">President</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="5"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5">Acknowledged and Agreed as of</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5">June&nbsp;13, 2017:</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="5"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5">THE PRIVATEBANK AND TRUST COMPANY</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Kevin Kehoe</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Kevin Kehoe</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Group Head, Correspondent Banking</TD></TR>
</TABLE></DIV>
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</TEXT>
</DOCUMENT>
