other material
confidence high
sentiment neutral
materiality 0.65
Atlanticus enters $100M at-the-market issuance agreement for preferred stock and senior notes
Atlanticus Holdings Corp
- Entered Sales Agreement with B. Riley Securities to sell up to $100M of 7.625% Series B Preferred Stock and 6.125% Senior Notes due 2026.
- Sales agent commission is 2% of gross proceeds from Offered Securities sold under the agreement.
- Amended articles designate 7,388,533 shares of Preferred Stock with cumulative dividends at 7.625% of $25 liquidation preference.
- Preferred Stock ranks senior to common, on parity with other series, junior to Series A Convertible Preferred and all indebtedness.
- Preferred Stock generally not redeemable before June 11, 2026, except upon change of control or delisting event.