ATLC - Atlanticus Holdings prices $70M perpetual preferred stock offering

Atlanticus Holdings (ATLC) priced its underwritten public offering of 2.8M shares of its 7.625% Series B Cumulative Perpetual Preferred Stock at $25/share, for gross proceeds of ~$70M.Underwriters granted 30-day option to purchase up to an additional 420K shares of Series B Preferred Stock.The offering is expected to close on or about  June 11.The company’s shares of Preferred Stock are expected to begin trading on NASDAQ under the symbol “ATLCP” within 30 days of the closing date of this offering.Proceeds will be used for general corporate purposes, including repurchases of common stock.

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Atlanticus Holdings prices $70M perpetual preferred stock offering