Bread Financial Prices 4.8M Depositary Shares Offering for $115.3M Net Proceeds

Bread Financial Holdings, Inc. announced the pricing of an 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, which includes an option for underwriters to purchase an additional 720,000 shares, is expected to generate approximately $115.3 million in net proceeds. The company intends to use these proceeds for general corporate purposes, potentially including contributions to its subsidiary bank, Comenity Capital Bank, and share repurchases.