Atlanticus Closes $50 Million Offering of Senior Notes
30 Janeiro 2024 - 2:49PM
Atlanticus Holdings Corporation (NASDAQ: ATLC) (“Atlanticus,”
“the Company”, “we,” “our” or “us”), a financial technology company
that enables its bank, retail and healthcare partners to offer more
inclusive financial services to millions of everyday Americans,
today announced the closing of its previously announced
underwritten registered public offering (the “Offering”) of $50
million aggregate principal amount of 9.25% Senior Notes due 2029
(the “Notes”). The Offering resulted in net proceeds of
approximately $48.3 million after deducting underwriting discounts
and commissions, but before deducting expenses and the structuring
fee.
The Company granted the underwriters a 30-day
option to purchase up to an additional $7.5 million aggregate
principal amount of the Notes in connection with the Offering.
The Company expects to use the net proceeds of
this Offering to redeem a portion of the Class B preferred units
issued by one of the Company’s subsidiaries and/or for general
corporate purposes.
The Notes have been approved for listing on the
Nasdaq Global Select Market (“Nasdaq”) under the symbol “ATLCZ” and
are expected to begin Nasdaq trading on January 31, 2024.
B. Riley Securities, Inc., Janney Montgomery
Scott LLC, Ladenburg Thalmann & Co. Inc., William Blair &
Co., L.L.C., and BTIG, LLC acted as book-running managers for the
Offering. Brownstone Investment Group, LLC acted as co-manager for
the Offering.
Troutman Pepper Hamilton Sanders LLP acted as
legal counsel to the Company. Duane Morris LLP acted as legal
counsel to the underwriters.
The Offering of these Notes was made pursuant to
an effective shelf registration statement on Form S-3, which was
initially filed with the Securities and Exchange Commission (the
“SEC”) on May 6, 2021 and declared effective by the SEC on May 13,
2021. The Offering was made only by means of a prospectus and
prospectus supplement. A copy of the prospectus and prospectus
supplement relating to these securities may be obtained from the
website of the SEC at http://www.sec.gov or by contacting: B. Riley
Securities, Inc., 1300 17th Street North, Suite 1300, Arlington,
Virginia 22209, Attn: Prospectus Department, Email:
prospectuses@brileyfin.com, Telephone: (703) 312-9580.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy, nor shall there be
any sale of these securities in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About Atlanticus Holdings Corporation
Empowering Better Financial Outcomes for Everyday Americans
Atlanticus’ technology allows bank, retail, and
healthcare partners to offer more inclusive financial services to
everyday Americans through the use of proprietary analytics. We
apply the experience gained and infrastructure built from servicing
over 18 million customers and $38 billion in consumer
loans over our more than 25 year operating history to support
lenders that originate a range of consumer loan products. These
products include retail and healthcare private label credit and
general purpose credit cards marketed through our omnichannel
platform, including retail point-of-sale, healthcare-point of-care,
direct mail solicitation, internet-based marketing, and
partnerships with third parties. Additionally, through our CAR
subsidiary, Atlanticus serves the individual needs of
automotive dealers and automotive non-prime financial organizations
with multiple financing and service programs.
Forward-Looking Statements
This press release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. You generally can identify these statements by
the use of words such as “outlook,” “potential,” “continue,” “may,”
“seek,” “approximately,” “predict,” “believe,” “expect,” “plan,”
“intend,” “estimate” or “anticipate” and similar expressions or the
negative versions of these words or comparable words, as well as
future or conditional verbs such as “will,” “should,” “would,”
“likely” and “could.” These statements are subject to certain risks
and uncertainties that could cause actual results to differ
materially from those included in the forward-looking statements.
These risks and uncertainties include those risks described in the
Company’s filings with the Securities and Exchange Commission and
include, but are not limited to, risks related to the uncertain
economic environment, particularly the impact of inflation,
interest rates, labor availability and supply chains; the Company’s
ability to retain existing, and attract new, merchant partners and
funding sources; increases in loan delinquencies; its ability to
operate successfully in a highly regulated industry; the outcome of
litigation and regulatory matters; the effect of management
changes; cyberattacks and security vulnerabilities in its products
and services; and the Company’s ability to compete successfully in
highly competitive markets. The forward-looking statements speak
only as of the date on which they are made, and, except to the
extent required by federal securities laws, the Company disclaims
any obligation to update any forward-looking statement to reflect
events or circumstances after the date on which the statement is
made or to reflect the occurrence of unanticipated events. In light
of these risks and uncertainties, there is no assurance that the
events or results suggested by the forward-looking statements will
in fact occur, and you should not place undue reliance on these
forward-looking statements.
Contact:Investor Relations(770)
828-2000investors@atlanticus.com
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