Medallion Bank reopens Series G preferred stock offering to fund debt redemption

Medallion Bank has reopened its public offering of Series G preferred stock, building on its initial issuance from May 2025. The Utah-chartered bank, a wholly owned subsidiary of Medallion Financial Corp., aims to use the net proceeds for general corporate purposes, potentially including the redemption of its outstanding Series E preferred stock. This move allows the bank to raise fresh capital and manage its capital structure in a changing interest rate environment.