Bread Financial Prices Offering of 5,000,000 Depositary Shares Representing Series C Preferred Stock
Bitget2026/10/28 10:06- Bread Financial priced 5,000,000 depositary shares representing interests in its 9.38% Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series C.
- Each depositary share represents a 1/40th interest in a preferred share, with a $25 liquidation preference per depositary share.
- The offering is expected to close November 3, 2026, generating approximately $120.16 million in net proceeds excluding the underwriters' option.
- Underwriters have a 30-day option from October 27, 2026, to purchase up to 750,000 additional depositary shares at the same price.
- Proceeds will fund general corporate purposes, potentially including contributions or loans to Comenity Capital Bank and share repurchases.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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