Medallion Bank, a wholly owned subsidiary of Medallion Financial Corp., announced on September 22, 2026, the launch of a public offering of additional shares of its Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series G. The offering is a reopening of the bank's original issuance, which took place on May 22, 2025. The Series G Preferred Stock has a par value of $1.00 per share and a liquidation amount of $25 per share. The shares are traded on the Nasdaq Capital Market under the ticker symbol "MBNKO."
The offering is being managed by a group of financial institutions, including Piper Sandler & Co., Lucid Capital Markets, LLC, Muriel Siebert & Co., LLC, A.G.P. / Alliance Global Partners, and Ladenburg Thalmann & Co. Inc. as joint book-running managers. William Blair & Company, L.L.C., InspereX LLC, B. Riley Securities, Inc., and Clear Street LLC are serving as lead managers. Medallion Bank expects to grant the underwriters a 30-day option to purchase additional shares solely to cover over-allotments, if any.
The bank intends to use the net proceeds from this offering for general corporate purposes. Specifically, the proceeds may be used to redeem some or all of the bank's outstanding Senior Series E Non-Cumulative Perpetual Preferred Stock, subject to the prior approval of the Federal Deposit Insurance Corporation. Medallion Bank is an FDIC-insured industrial bank headquartered in Salt Lake City, Utah, specializing in consumer loans for recreational vehicles, boats, and home improvements, as well as loan origination services for fintech partners.
