Live Oak Bancshares prices offering of 4,000,000 depositary shares
LOB•Live Oak Bancshares priced an offering of 4,000,000 depositary shares at a $25 liquidation preference each. Net proceeds will support general corporate purposes, including bank balance sheet growth and strengthening its capital position.
1. Offering details
Each depositary share represents a 1/40th ownership interest in Live Oak Bancshares’ 8.75% Fixed Rate Series B Non-Cumulative Perpetual Preferred Stock. Underwriters have a 30-day option to purchase up to 600,000 additional shares to cover overallotments.
2. Use of proceeds
Net proceeds will fund general corporate purposes, including bank balance sheet growth and strengthening the company's capital position. The offering is expected to close on or about November 12, 2026.
