Corporate ActionMay 5, 2026, 08:05 PM
Bread Financial Prices $115.3M Preferred Stock Offering
AI Summary
Bread Financial Holdings, Inc. announced the pricing of its underwritten public offering of 4,800,000 depositary shares, each representing a 1/40th interest in its 8.875% Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series B. The offering is expected to generate approximately $115.3 million in net proceeds, which the company intends to use for general corporate purposes, including potential contributions to subsidiary banks and share repurchases. Underwriters were also granted an option to purchase up to an additional 720,000 depositary shares.
Key Highlights
- Priced public offering of 4,800,000 depositary shares.
- Each share represents 1/40th interest in 8.875% Series B Preferred Stock.
- Expected net proceeds of approximately $115,320,000.
- Underwriters have option to purchase up to an additional 720,000 depositary shares.
- Proceeds to be used for general corporate purposes, including share repurchases.
- Depositary Shares have a liquidation preference of $25 each.