Live Oak Bancshares Prices $100 Million Preferred Stock Offering
Live Oak Bancshares (LOB) has announced the pricing of a $100 million preferred stock offering. The offering consists of 4 million depositary shares, with each share representing a 1/40th interest in the company's 8.75% Series B non-cumulative perpetual preferred stock at a liquidation preference of $25 per share. Following the announcement, Live Oak Bancshares' stock price experienced a slight decline of approximately 1.4% during Wednesday's trading session. The issuance is part of the company's capital management strategy through the use of preferred equity.
Tickers: $LOB
Topics: Capital Raising Preferred Stock Stock Offering
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Part of the story Live Oak Bancshares, Inc. - 10-Q Filing (6 articles)