Medallion Bank Announces Closing of Series G Preferred Stock Offering
Key Highlights
- ➤Series G offering closed: 2,200,000 shares, $55 million aggregate liquidation amount
- ➤Series G Preferred Stock trades on Nasdaq Capital Market under MBNKO
- ➤Underwriters received 30-day option for 330,000 additional Series G shares
- ➤Net proceeds may redeem Series E preferred stock, subject to FDIC approval
SALT LAKE CITY, Sept. 30, 2026 (GLOBE NEWSWIRE) -- Medallion Bank (Nasdaq: MBNKO), an FDIC-insured bank providing consumer loans for the purchase of recreational vehicles, boats, and home improvements, along with loan origination services to fintech strategic partners, announced today that it has closed a public offering of 2,200,000 additional shares of its Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series G, par value $1.00 per share, with a liquidation amount of $25 per share (the “Series G Preferred Stock”) and an aggregate liquidation amount of $55 million. The offering priced on September 23, 2026. The underwriters have also been granted a 30-day option to purchase up to an additional 330,000 shares of the Series G Preferred Stock solely to cover over-allotments, if any.
Medallion Bank’s Series G Preferred Stock is traded on the Nasdaq Capital Market under the ticker symbol “MBNKO.” Medallion Bank remains a wholly owned subsidiary of Medallion Financial after the completion of the offering.
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