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Medallion Financial to price public sale of 2.9 million common shares
Morgan Stanley, Keefe, Bruyette & Woods, Sandler O'Neill will assist
By Devika Patel
Knoxville, Tenn., Dec. 2 - Medallion Financial Corp. said it will price a public offering of 2.9 million common shares with a 30-day greenshoe for an additional 435,000 shares.
Morgan Stanley & Co. LLC, Keefe, Bruyette & Woods, Inc. and Sandler O'Neill & Partners, LP are the joint bookrunning managers.
Proceeds will be used to make loans and other investments in portfolio companies and for general corporate purposes, including repaying debt under the company's revolving credit facilities and expanding its operations.
Medallion is a New York-based specialty finance company that focuses on the origination and servicing of loans to finance the purchase of taxicab medallions and related assets.
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