secwatch.observer — SEC 8-K summary
======================================

Issuer:     BREAD FINANCIAL HOLDINGS, INC. (BFH)
CIK:        0001101215
Form:       8-K
Filed at:   2026-05-12T16:22:21+00:00
Accession:  0001193125-26-218648
Event type: other_material
Sentiment:  neutral
Materiality: 0.65
Item codes: 3.03, 5.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Bread Financial raises $135M through 8.875% Series B preferred stock issuance
-----------------------------------------------------------------------------

- Issued 5,400,000 depositary shares (each 1/40th interest in Series B Preferred) at $1,000 liquidation preference per share, raising ~$135M.
- Series B is 8.875% Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock.
- Underwriting led by Morgan Stanley, RBC Capital Markets, UBS Securities, Wells Fargo Securities, and KBW.
- Dividends on Series B must be declared before any dividends or repurchases of junior or parity stock if Series B dividends unpaid.
- Certificate of designations filed with Delaware Secretary of State effective May 12, 2026.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1101215/000119312526218648/0001193125-26-218648-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1101215/000119312526218648/d118407d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-218648

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer