Medallion Financial prices $55M preferred share offering
What's the deal? Medallion Financial Corp.Dealroom has a profile for this one. Try Dealroom → (NASDAQ: MFIN) has priced 2,200,000 additional Series G preferred shares through its wholly owned subsidiary Medallion BankDealroom has a profile for this one. Try Dealroom →, for a total liquidation amount of $55 million. Each share carries a $1.00 par value and a $25 liquidation amount.
The details: The Series G dividends carry a fixed annual rate of 9.00% until July 1, 2030. Dividend accrual for the offered shares begins on October 1, 2026, with payments starting January 1, 2027. Underwriters hold a 30-day option to buy up to 330,000 additional Series G shares.
Why now? The offering reopens Medallion Bank's original Series G issuance dated May 22, 2025. Post-transaction, Medallion Financial is expected to retain full ownership of Medallion Bank.
What's the endgame? The capital will fund general corporate purposes, which may include redeeming some or all Series E preferred stock, pending approval from the Federal Deposit Insurance Corporation.
The signal: At $55 million, the raise sits in the smaller end of financing rounds, ranking in the 18th percentile by amount. For Medallion, which operates in the finance, rental, and leasing sector, the move reflects a routine effort to refresh its capital structure at a fixed cost through the end of the decade.
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