Live Oak Bancshares closes $100M preferred stock offering, net proceeds ~$96.15M

Live Oak Bancshares, Inc.

Issued 4M depositary shares representing Series A 8.375% Fixed Rate Non-Cumulative Perpetual Preferred Stock.
Aggregate liquidation preference of $100M ($25 per depositary share).
Net proceeds of approximately $96.15M after underwriting discounts and estimated expenses.
Joint book-running managers: Morgan Stanley, RBC, UBS, and Keefe, Bruyette & Woods.
Depositary shares listed on NYSE under symbol 'LOB PR A'.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Live Oak Bancshares, Inc.: Filed Articles of Amendment to establish series of preferred stock (Series A Non-Cumulative Perpetual Preferred Stock) (effective 2025-07-31).

Change: charter amendment
Effective: 2025-07-31

Exact text from the filing

On July 31, 2025, the Company filed the Articles of Amendment with the Secretary of State of North Carolina, establishing the authorized number of shares of Series A Preferred Stock as 100,000 and providing for the voting and other powers, preferences and relative, participating, optional or other rights, and the qualifications, limitations and restrictions related to the Series A Preferred Stock.

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11 governance changes filed in the last 30 days. Browse all governance changes →

Live Oak Bancshares, Inc. filing history →

Source: SEC EDGAR

accession 0001462120-25-000063

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