Medallion Financial Corp. Announces Medallion Bank’s Planned Public Offering of Preferred Stock
September 17 2018 - 4:05PM
Business Wire
Medallion Financial Corp. (Nasdaq: MFIN, “Medallion Financial”)
announced today that its wholly owned subsidiary, Medallion Bank,
has submitted confidential draft offering materials to the Federal
Deposit Insurance Corporation in connection with an anticipated
initial public offering of a series of preferred stock. Medallion
Bank will remain a wholly owned subsidiary of Medallion Financial
Corp. upon completion of the offering. The timing, size and other
terms of the offering have not yet been determined. Medallion Bank
would pay a yet to be determined dividend rate on the preferred
stock. If completed, Medallion Financial anticipates that the
offering would be accretive for Medallion Bank and Medallion
Financial.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy securities, and shall not
constitute an offer, solicitation or sale in any jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of that
jurisdiction.
About Medallion Financial Corp. and Medallion Bank
Medallion Financial Corp. is a commercial finance company that
originates and services loans in various industries, and its
wholly-owned subsidiary, Medallion Bank, also originates and
services consumer loans. Medallion Financial Corp. has lent more
than $8 billion since its initial public offering in 1996.
Please note that this press release contains forward-looking
statements that involve risks and uncertainties relating to
business performance, cash flow, costs, sales, net investment
income, earnings, and growth. Medallion Financial’s and Medallion
Bank’s actual results may differ significantly from the results
discussed in such forward-looking statements. Factors that might
cause such a difference include, but are not limited to, those
factors discussed under the heading “Risk Factors,” in Medallion
Financial’s 2017 Annual Report on Form 10-K. In addition,
statements about the offering are subject to the risk that the
offering may not occur.
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Medallion Financial Corp.Investor
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