Live Oak Bancshares closes depositary share offering, nets $96.25 million
LOB•Live Oak Bancshares closed an underwritten offering of 4 million depositary shares, raising approximately $96.25 million net.
1. Offering details
Each depositary share represents a 1/40th interest in Live Oak Bancshares’ 8.75% Fixed Rate Series B Non-Cumulative Perpetual Preferred Stock and has a $25 liquidation preference.
