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MEDALLION FINANCIAL CORP (MFIN) filed an 8-K current report with the SEC on September 24, 2026 reporting Item 7.01 (Regulation FD Disclosure), Item EX-99.1 (Exhibit EX-99.1). Medallion Bank priced 2.2 million Series G preferred shares at $25 liquidation value each.
MEDALLION FINANCIAL CORP 8-K event analysis
AI summary of each reported item and its exhibits
Item 7.01 · Regulation FD Disclosure
- Medallion Bank priced 2.2 million Series G preferred shares at $25 liquidation value each
- Offering aggregate liquidation amount totals $55 million
- Perpetual non-cumulative preferred stock creates additional capital but carries no cumulative dividend obligation
- Parent company shareholders face potential subsidiary-level capital structure and dividend-priority implications
Item EX-99.1 · Exhibit EX-99.1
- Medallion Bank priced $55 million of Series G preferred stock, strengthening subsidiary capital while preserving Medallion Financial’s wholly owned control
- Fixed 9.00% annual dividend through June 30, 2030, then five-year Treasury rate plus 4.94%
- Non-cumulative dividends payable quarterly only if declared and legally permitted, creating investor income and payment-risk considerations
- Proceeds may fund general purposes or redeem Series E preferred stock, subject to FDIC approval
- Underwriters hold a 30-day option for 330,000 additional shares, potentially increasing total capital raised and dividend obligations
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