other_material
confidence high
sentiment neutral
materiality 0.60
Medallion Bank launches Series G preferred offering; proceeds for capital, loan growth
MEDALLION FINANCIAL CORP
- Series G Fixed-Rate Reset Non-Cumulative Perpetual Preferred, $25 liquidation preference, to trade as MBNKO on Nasdaq.
- Net proceeds for general corporate purposes: increasing capital, growing consumer loan portfolios, or redeeming outstanding Series F preferred.
- Underwriters granted 30-day option to purchase additional shares for over-allotments.
- Joint book-runners: Piper Sandler & Co. and Lucid Capital Markets; seven additional lead managers.
- Offering exempt from SEC registration under Section 3(a)(2) of the Securities Act as a bank issuance.