Business Context and Reporting Period
This Form 8-K Current Report is filed by Medallion Financial Corp. on May 29, 2025. The report discloses a material event involving Medallion Bank, a wholly owned subsidiary of the Company, regarding the redemption of preferred stock.
Key Financial Metrics
The filing details a specific capital transaction rather than providing comprehensive financial statements for a reporting period.
- Transaction Type: Redemption of Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series F.
- Shares Redeemed: 1,840,000 shares.
- Redemption Price: $25.00 per share.
- Total Redemption Amount: $46,000,000.
- Redemption Date: July 1, 2025.
The filing text does not provide clear values for revenue, profit, cash flow, margins, debt levels, or liquidity ratios outside of this specific transaction.
Material Changes
The primary material change is the scheduled reduction of the Company's preferred equity capital by $46 million upon the redemption of the Series F Preferred Stock on July 1, 2025. This represents a full redemption of the outstanding shares of this specific series.
Guidance, Outlook, and Risks
The filing does not contain forward-looking guidance, management commentary on future performance, or a discussion of risks and contingencies beyond the announcement of the redemption. The information is furnished pursuant to Item 7.01 (Regulation FD Disclosure) and is not incorporated by reference into registration statements unless specifically identified.
Investor Verification Checklist
- Verify the execution of the $46,000,000 redemption payment on July 1, 2025.
- Confirm the impact of this redemption on the Company's total equity and capital adequacy ratios in the next quarterly report.
- Review the attached press release (Exhibit 99.1) for any additional terms or conditions regarding the Series F Preferred Stock.
- Monitor subsequent filings for any changes in the Company's dividend policy or capital structure following this redemption.