Medallion Bank Prices $55 Million Reopening of Series G Preferred Stock Offering
Medallion Bank (MBNKO) has priced a public offering for an additional 2.2 million shares of its 9.00% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series G. The stock is being offered at a liquidation preference of $25 per share, which will raise approximately $55 million in total proceeds. This transaction marks the reopening of an existing preferred stock offering and reflects Medallion Bank's ongoing capital-raising efforts to support its operations or strategic initiatives. Preferred shares like these typically offer fixed dividends but do not carry voting rights, making them a common tool for banks seeking stable funding without diluting control. The issuance could influence investor sentiment toward the bank’s financial health and strategy while potentially impacting broader market perceptions of risk in the banking sector.
