Bread Financial Announces Launch of an Offering of Depositary Shares Representing Interests in Its Series B Preferred Stock
Bread Financial launched an underwritten public offering of depositary shares, each representing a 1/40th interest in a share of its Series B Preferred Stock with a $25 liquidation preference. The company intends to use the net proceeds for general corporate purposes, including potentially lending funds to its subsidiary Comenity Capital Bank and repurchasing shares.
Key figures
- Offering Price
- $25.00
- Par value
- $0.01 per share
- Liquidation preference
- $25 per Depositary Share ($1,000 per share of Series B Preferred Stock)
AI analysis
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