Medallion Financial Corp. Closes Public Offering of Common Stock
May 21 2012 - 4:22PM
Business Wire
Medallion Financial Corp. (NASDAQ: TAXI), a specialty finance
company with a leading position servicing the taxicab industry and
other niche markets (the “Company”), today announced that it has
closed its previously announced underwritten public offering of
3,500,000 shares of its common stock at a price of $10.72 per
share. The Company raised approximately $35.4 million in net
proceeds after deducting underwriting discounts and
commissions.
The Company expects to use the net proceeds from the offering to
make loans and other investments in portfolio companies and for
general corporate purposes, including repaying borrowings under the
Company’s revolving credit facilities in the ordinary course of
business.
Morgan Stanley & Co. LLC, Stifel, Nicolaus & Company,
Incorporated and Sandler O’Neill + Partners, L.P. acted as joint
bookrunning managers.
About Medallion Financial Corp.
Medallion Financial Corp. is a specialty finance company with a
leading position in the origination and servicing of loans
financing the purchase of taxicab medallions and related assets.
The Company also originates and services loans in other commercial
industries, and its wholly-owned portfolio company, Medallion Bank,
also originates and services consumer loans.
Forward-Looking Statements
This press release contains certain forward-looking statements,
including statements with regard to the Company's proposed
securities offering and the anticipated use of the net proceeds of
the offering. These forward-looking statements are subject to the
inherent uncertainties in predicting future results and conditions
and no assurance can be given that the securities offering
discussed above will be consummated on the anticipated terms or at
all. Completion of the securities offering and the terms thereof
are subject to numerous factors, many of which are beyond the
control of the Company, including, without limitation, market
conditions and failure of customary closing conditions. The Company
undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
Medallion Financial (NASDAQ:MFIN)
Historical Stock Chart
From Aug 2024 to Sep 2024
Medallion Financial (NASDAQ:MFIN)
Historical Stock Chart
From Sep 2023 to Sep 2024