Atlanticus Holdings Corporation Prices $70 Million Offering of Series B Cumulative Perpetual Preferred Stock

About this update from Atlanticus Holdings Corporation

[{"type":"text","content":"ATLANTA, June 09, 2021 (GLOBE NEWSWIRE) -- Atlanticus Holdings Corporation (NASDAQ: ATLC) (“Atlanticus” or the “Company”) today announced the pricing of its underwritten registered public offering of 2,800,000 shares of 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, raising gross proceeds of $70 million before deducting underwriting discounts, the structuring fee and other estimated offering expenses. In connection with the offering, the Company has granted the underwriters a 30-day option to purchase up to an additional 420,000 shares of Preferred Stock. The offering is expected to close on or about June 11, 2021, subject to customary closing conditions. The Company’s shares of Preferred Stock are expected to begin trading on NASDAQ under the symbol “ATLCP” within 30 days of the closing date of this offering, if approved. Net proceeds of this offering will be used for general corporate purposes, including repurchases of common stock. B. Riley Securities, Inc., Janney Montgomery Scott LLC, Ladenburg Thalmann & Co. Inc. and William Blair & Company are acting as book-running managers for this offering. Kingswood Capital Markets, division of Benchmark Investments, LLC, is acting as the lead manager for the offering. Aegis Capital Corp. and Maxim Group LLC are acting as co-managers for this offering. 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, so...

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