Bread Financial Holdings, Inc. announced the pricing of its underwritten public offering of depositary shares.
Each Depositary Share represents a 1/40th interest in a share of its Non-Cumulative Perpetual Preferred Stock, Series A.
The Company expects approximately $72,637,500 in net proceeds from the offering.
Offering Details
Depositary Shares represent interests in the Series A Preferred Stock with a liquidation preference of $25 per Depositary Share.
Listing Plan
The Company plans to list the Depositary Shares on The New York Stock Exchange.
Use of Proceeds
Intends to use net proceeds for general corporate purposes and share repurchases.
- The offering is expected to result in significant net proceeds for Bread Financial Holdings, Inc.
- It allows the Company to enhance its capital base and strengthen its financial position.
The successful pricing of the Depositary Shares offering will bolster Bread Financial's financial stability and support its growth initiatives in the financial services sector.