Medallion Bank launches Series G preferred stock offering

Medallion Bank (Nasdaq: MBNKO) announced the launch of a public offering of additional shares of its Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series G, with a par value of $1.00 per share and a liquidation amount of $25 per share.

The offering is a reopening of the bank's original Series G issuance, which took place on May 22, 2025. The Series G Preferred Stock trades on the Nasdaq Capital Market under the ticker symbol MBNKO.

Medallion Bank said it intends to use net proceeds for general corporate purposes, which may include redeeming some or all of its outstanding Senior Series E Non-Cumulative Perpetual Preferred Stock, subject to prior approval from the Federal Deposit Insurance Corporation.

The bank also expects to grant underwriters a 30-day option to purchase additional shares to cover any over-allotments.

Piper Sandler & Co., Lucid Capital Markets, Muriel Siebert & Co., A.G.P./Alliance Global Partners, and Ladenburg Thalmann & Co. are serving as joint book-running managers. William Blair & Company, InspereX, B. Riley Securities, and Clear Street are acting as lead managers.

The offering is exempt from registration requirements under Section 3(a)(2) of the Securities Act of 1933. Medallion Bank is a wholly owned subsidiary of Medallion Financial Corp. and is headquartered in Salt Lake City, Utah.

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