Medallion Bank prices USD 55 million Series G preferred stock reopening
MFIN•Use of proceeds and timing
Proceeds are earmarked for general corporate purposes, including the potential redemption of Series E preferred stock, subject to FDIC approval.
The offering is expected to close on Sept. 30, 2026. Medallion Bank remains a wholly owned unit of Medallion Financial.
Series G reopening priced at $55 million
Medallion Bank priced a $55 million reopening of its Series G fixed-rate reset non-cumulative perpetual preferred stock.
The shares pay a 9% fixed dividend through June 30, 2030, then reset to the 5-year U.S. Treasury rate + 4.94% from July 1, 2030.
