NEW YORK, May 15, 2012 (BUSINESS WIRE) –
Medallion Financial Corp.
, a specialty finance company
with a leading position servicing the taxicab industry and other niche
markets (the “Company”), today announced that it has commenced an
underwritten public offering of 3,500,000 shares of its common stock.
The Company intends to grant the underwriters a 30-day option to
purchase up to an additional 525,000 shares of common stock to cover
over-allotments, if any.
The Company expects to use the net proceeds from the offering to make
loans and other investments in portfolio companies and for general
corporate purposes, including repaying borrowings under our revolving
credit facilities in the ordinary course of business.
Morgan Stanley Co. LLC, Stifel, Nicolaus Company, Incorporated
and Sandler O’Neill + Partners, L.P. are acting as joint bookrunning
managers. The offering is being made pursuant to the Company’s existing
effective shelf registration statement on Form N-2 previously filed with
the Securities and Exchange Commission (the “SEC”). A preliminary
prospectus supplement and the accompanying prospectus, which is subject
to change, will be filed with the SEC in connection with the offering,
copies of which, when available, may be obtained from: (i) Morgan
Stanley by calling 1-866-718-1649, by mail at Morgan Stanley Prospectus
Department, 180 Varick Street, 2nd Floor, New York, NY 10014, Attention:
Prospectus Dept., or by email at email@example.com;
(ii) Stifel, Nicolaus Company, Incorporated by calling 1-443-224-1988,
by mail at Stifel, Nicolaus Company, Incorporated, One South Street,
15th Floor, Baltimore, MD 21201, Attention: Prospectus Department, or by
email at firstname.lastname@example.org;
and (iii) Sandler O’Neill + Partners, L.P. by calling 1-866-805-4128, or
by email at email@example.com.
Investors are advised to carefully consider the investment objectives,
risks and charges and expenses of the Company before investing. The
prospectus supplement and accompanying prospectus contain a description
of these matters and other important information about the Company and
should be read carefully before investing.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy nor will there be any sale of the shares
referred to in this press release in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of such state or
About Medallion Financial Corp.
Medallion Financial Corp. is a specialty finance company with a leading
position in the origination and servicing of loans financing the
purchase of taxicab medallions and related assets. The Company also
originates and services loans in other commercial industries, and its
wholly-owned portfolio company, Medallion Bank, also originates and
services consumer loans.
This press release contains certain forward-looking statements,
including statements with regard to the Company’s proposed securities
offering and the anticipated use of the net proceeds of the offering.
These forward-looking statements are subject to the inherent
uncertainties in predicting future results and conditions and no
assurance can be given that the securities offering discussed above will
be consummated on the anticipated terms or at all. Completion of the
securities offering and the terms thereof are subject to numerous
factors, many of which are beyond the control of the Company, including,
without limitation, market conditions and failure of customary closing
conditions. The Company undertakes no obligation to publicly update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise.
SOURCE: Medallion Financial Corp.
AT THE COMPANY: Medallion Financial Corp. Andrew M. Murstein, President Larry D. Hall, CFO 1-212-328-2100 1-877-MEDALLION or AT ZLOKOWER COMPANY Public Relations Harry Zlokower/Dave Closs 1-212-447-9292
Copyright Business Wire 2012
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