Medallion Financial Corp. Announces Postponement of Initial Public Offering of Preferred Stock by Medallion Bank
January 18 2019 - 9:20AM
Business Wire
Medallion Financial Corp. (Nasdaq: MFIN, “Medallion Financial”)
announced today that its wholly owned subsidiary, Medallion Bank,
was postponing its previously announced initial public offering of
shares of its Series F Fixed-to-Floating Rate Noncumulative
Perpetual Preferred Stock, par value $1.00 per share, with a
liquidation preference of $25 per share (the “Series F Preferred
Stock”).
A registration statement on Form 10 relating to the Series F
Preferred Stock has been filed with the Federal Deposit Insurance
Corporation but has not become effective. This press release is for
informational purposes only and 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 and Medallion Bank
Medallion Financial Corp. is a finance company that originates
and services loans in various industries. Medallion Financial Corp.
has lent more than $8 billion since its initial public offering in
1996.
Medallion Bank is a Utah-chartered, FDIC-insured industrial bank
headquartered in Salt Lake City, Utah. Medallion Bank specializes
in providing consumer loans for the purchase of recreational
vehicles, boats and trailers and for home improvements such as
replacement windows and roofs.
This press release contains, and from time to time the
management of Medallion Financial Corp. may make, “forward-looking
statements”, which reflect Medallion Financial’s current views with
respect to future events and which address matters that are, by
their nature, inherently uncertain and beyond Medallion Financial’s
control. These statements are often, but not always, made through
the use of words or phrases such as “may,” “will,” “might,”
“could,” “should,” “would,” “project,” “anticipate,” “expect,”
“intend,” “seek,” “believe,” “plan,” “goal,” or the negative
version of those words or other comparable words or phrases of a
future or forward-looking nature. These statements may relate to,
among other things, the postponement of the initial public offering
of the Series F Preferred Stock. No assurance can be given that the
transaction discussed above will be completed. The completion of
the offering, is subject to numerous conditions, many of which are
beyond the control of Medallion Financial. Medallion Financial
undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law. For a
description of certain risks to which Medallion Financial is or may
be subject, please refer to the factors discussed under the heading
“Risk Factors,” in Medallion Financial’s 2017 Annual Report on Form
10-K.
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version on businesswire.com: https://www.businesswire.com/news/home/20190118005251/en/
Company:Alex ArzenoInvestor
Relations212-328-2176InvestorRelations@medallion.com
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