U.S. Bancorp Furnishes Details on BTIG Acquisition
Summary
U.S. Bancorp announced on January 13, 2026, via Ex. 99.1 press release, its definitive agreement to acquire BTIG, LLC, a financial services firm. The acquisition, formalized by a Merger Agreement on January 12, 2026, involves U.S. Bancorp's Merger Sub merging with BTIG Parent, which will continue as a U.S. Bancorp subsidiary. This strategic move aims to expand U.S. Bancorp's markets-based product set and enhance support for institutional clients. * Cash payment at closing: $362,500,000. * Shares issued at closing: 6,600,594 common stock shares. * Contingent cash consideration: up to $275,000,000 over three years, based on revenue targets.
Why It Matters
This acquisition is material as it significantly expands U.S. Bancorp's capital markets capabilities, adding institutional equity sales and trading, equity capital markets, and M&A advisory services (via Ex. 99.1). The substantial consideration, including $362.5 million cash and 6.6 million shares, plus up to $275 million in contingent payments, reflects a strategic investment to accelerate growth and deepen client relationships.
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Key Quote
“01 per share, of the Company, to be issued at closing, and (c) additional contingent cash consideration of up to $275,000,000, payable over a three-year period after closing subject to achievement of specified revenue targets.”
— From Item 3.02
Filing Details
Reported Items
Additional Information
- CIK Number
- 0000036104
- Filing Date
- Tuesday, January 13, 2026
- Filing Time
- 12:00 AM UTC
- Form Type
- 8-K
- Materiality Level
- high
- Sentiment
- positive