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Atlanticus Holdings Corporation Announces Closing of Over-Allotment Option in Connection with Offering of Series B Cumulative Perpetual Preferred Stock
ATLANTA, July 08, 2021 (GLOBE NEWSWIRE) -- Atlanticus Holdings Corporation (NASDAQ: ATLC) (“Atlanticus” or the “Company”) today announced the closing of its
About this update from Atlanticus Holdings Corporation
[{"type":"text","content":"ATLANTA, July 08, 2021 (GLOBE NEWSWIRE) -- Atlanticus Holdings Corporation (NASDAQ: ATLC) (“Atlanticus” or the “Company”) today announced the closing of its underwritten registered public offering of 388,533 additional shares of its 7.625% Series B Cumulative Perpetual Preferred Stock, no par value and liquidation preference of $25.00 per share (the “Preferred Stock”), at an initial public offering price of $25.00 per share, in connection with the exercise of the underwriters’ option to purchase additional shares of Preferred Stock. The offering resulted in net proceeds of approximately $9.3 million after deducting underwriting discounts and commissions, but before deducting expenses and the structuring fee. The Company expects to use the net proceeds of this offering for general corporate purposes, including the repurchase of common stock. B. Riley Securities, Inc., Janney Montgomery Scott LLC, Ladenburg Thalmann & Co. Inc. and William Blair & Company acted as book-running managers for this offering. Kingswood Capital Markets, division of Benchmark Investments, LLC, acted as lead manager for the offering. Aegis Capital Corp. and Maxim Group LLC acted as co-managers for this offering. Troutman Pepper Hamilton Sanders LLP acted as legal counsel to the Company. Alston & Bird LLP acted as legal counsel to the underwriters. The offering of these securities is being made pursuant to an effective shelf registration statement on Form S-3, which was initially filed with the Securities and Exchange Commission (the “SEC”) on May 6, 2021 and declared effective by the SEC on May 13, 2021. The offering will be made only by means of a prospectus and prospectus supplement. A copy of the prospectus and prospectus supplement relating to these securities may be obtained, when available, from the website of the SEC at http://www.sec.gov or by contacting: B. Riley Securities, Inc., 1300 17th Street North, Suite 1300, Arlington, Virginia 22209, Attn: Prospectus Department, Email: [email protected], Telephone: (703) 312-9580. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or ...