Medallion Financial Corporation's Medallion Bank has announced the redemption of its Series F Preferred Stock. The FDIC-insured bank, known for offering consumer loans for recreational vehicles, boats, and home improvements, as well as loan origination services to fintech partners, will redeem all outstanding shares of its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series F, on July 1, 2025. The redemption price is set at $25.00 per share. As this date coincides with a dividend payment date, the redemption price does not include any declared and unpaid dividends, which will be paid separately. After the redemption date, the Series F Preferred Stock will no longer be outstanding, and dividends will cease to accrue. The redemption process will be managed through The Depository Trust Company, with Equiniti Trust Company, LLC serving as the transfer agent, registrar, and redemption agent. Investors are advised to contact their bank or broker for details on obtaining the redemption payment.
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