Medallion Financial unit Medallion Bank closes $55 million Series G preferred stock offering
Medallion Bank closed a public offering of 2.2 million Series G preferred shares with a $55 million liquidation amount. Net proceeds are earmarked for general corporate purposes, including a potential redemption of outstanding Senior Series E preferred stock subject to FDIC approval.
1. Offering closed
Medallion Bank, a Medallion Financial unit, closed a public offering of 2.2 million Series G preferred shares with a total liquidation amount of $55 million. Each share has a $25 liquidation amount and trades on Nasdaq under ticker MBNKO.
2. Use of proceeds
Net proceeds are earmarked for general corporate purposes, including a potential redemption of outstanding Senior Series E preferred stock, subject to FDIC approval.
