Corporate ActionSep 22, 2026, 04:31 PM
Medallion Bank Launches Public Offering of Series G Preferred Stock
AI Summary
Medallion Financial Corp. announced through its subsidiary, Medallion Bank, the launch of a public offering for its Series G Preferred Stock. This offering is a reopening of a previous issuance and the preferred stock is listed on the Nasdaq under the ticker MBNKO. The company may use the proceeds for general corporate purposes, including the potential redemption of its Series E Preferred Stock, pending regulatory approval. Several financial institutions are acting as joint book-running managers and lead managers for the offering.
Key Highlights
- Medallion Bank, a subsidiary of Medallion Financial Corp., announced the launch of a public offering of its Series G Preferred Stock.
- The offering is a reopening of Medallion Bank's original Series G Preferred Stock issuance from May 22, 2025.
- Medallion Bank's Series G Preferred Stock trades on the Nasdaq Capital Market under the ticker symbol "MBNKO."
- The bank expects to grant underwriters a 30-day option to purchase additional shares to cover over-allotments.
- Net proceeds are intended for general corporate purposes, potentially including redeeming Series E Preferred Stock, subject to FDIC approval.
Price Impact
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