Live Oak Bancshares, Inc. Closes Depositary Share Offering
Live Oak Bancshares (NYSE: LOB) has successfully completed its previously announced depositary shares offering. The company issued 4,000,000 depositary shares, each representing a 1/40th interest in a share of its 8.375% Fixed Rate Series A Non-Cumulative Perpetual Preferred Stock.
The offering, which had a liquidation preference of $25 per depositary share, generated net proceeds of approximately $96.15 million after deducting estimated expenses and underwriting discounts. Morgan Stanley, RBC Capital Markets, UBS Investment Bank, and Keefe, Bruyette & Woods served as joint bookrunning managers for the transaction.
Live Oak Bancshares (NYSE: LOB) ha completato con successo l'offerta di azioni depositarie precedentemente annunciata. La società ha emesso 4.000.000 di azioni depositarie, ciascuna rappresentante un interesse di 1/40 in un'azione della sua Serie A di azioni privilegiate perpetue non cumulative a tasso fisso dell'8,375%.
L'offerta, con una preferenza di liquidazione di 25 dollari per azione depositaria, ha generato proventi netti di circa 96,15 milioni di dollari dopo la detrazione delle spese stimate e degli sconti di sottoscrizione. Morgan Stanley, RBC Capital Markets, UBS Investment Bank e Keefe, Bruyette & Woods hanno agito come joint bookrunning manager per la transazione.
Live Oak Bancshares (NYSE: LOB) ha completado con éxito su oferta de acciones depositarias previamente anunciada. La compañía emitió 4,000,000 de acciones depositarias, cada una representando una participación de 1/40 en una acción de su Serie A de acciones preferentes perpetuas no acumulativas a tasa fija del 8.375%.
La oferta, que tenía una preferencia de liquidación de $25 por acción depositaria, generó ingresos netos de aproximadamente $96.15 millones después de deducir gastos estimados y descuentos de suscripción. Morgan Stanley, RBC Capital Markets, UBS Investment Bank y Keefe, Bruyette & Woods actuaron como gestores conjuntos del libro para la transacción.
Live Oak Bancshares (NYSE: LOB)가 이전에 발표한 예탁주식 공모를 성공적으로 완료했습니다. 회사는 4,000,000주의 예탁주식을 발행했으며, 각 주식은 8.375% 고정금리 시리즈 A 비누적 영구 우선주 1주의 1/40 지분을 나타냅니다.
청산 우선권이 주당 25달러인 이번 공모를 통해 추정 비용과 인수 수수료를 공제한 후 약 9,615만 달러의 순수익을 창출했습니다. Morgan Stanley, RBC Capital Markets, UBS Investment Bank, Keefe, Bruyette & Woods가 공동 주간사로 참여했습니다.
Live Oak Bancshares (NYSE : LOB) a achevé avec succès son offre d'actions déposées précédemment annoncée. La société a émis 4 000 000 d'actions déposées, chacune représentant une participation de 1/40 dans une action de sa Préférence perpétuelle non cumulative à taux fixe de 8,375 % série A.
L'offre, qui comportait une préférence de liquidation de 25 $ par action déposée, a généré un produit net d'environ 96,15 millions de dollars après déduction des frais estimés et des décotes de souscription. Morgan Stanley, RBC Capital Markets, UBS Investment Bank et Keefe, Bruyette & Woods ont agi en tant que gestionnaires conjoints du livre pour la transaction.
Live Oak Bancshares (NYSE: LOB) hat sein zuvor angekündigtes Angebot von Hinterlegungsscheinen erfolgreich abgeschlossen. Das Unternehmen gab 4.000.000 Hinterlegungsscheine aus, von denen jeder einen 1/40-Anteil an einer Aktie seiner 8,375% Festzins Serie A Nicht-kumulative unbefristete Vorzugsaktien darstellt.
Das Angebot, das eine Liquidationspräferenz von 25 USD pro Hinterlegungsschein hatte, erzielte nach Abzug der geschätzten Kosten und Underwriting-Abschläge einen Nettoerlös von etwa 96,15 Millionen USD. Morgan Stanley, RBC Capital Markets, UBS Investment Bank und Keefe, Bruyette & Woods fungierten als gemeinsame Bookrunning-Manager der Transaktion.
- Generated $96.15 million in net proceeds to strengthen capital position
- Successfully completed offering with support from major investment banks
- Potential increase in cost of capital with 8.375% Fixed Rate preferred stock
- Possible dilution of existing shareholders' equity
WILMINGTON, N.C., Aug. 04, 2025 (GLOBE NEWSWIRE) -- Live Oak Bancshares, Inc. (NYSE: LOB) (“Live Oak” or the “Company”) announced the closing of its previously announced underwritten offering of 4,000,000 depositary shares, each representing a 1/40th interest in a share of its
Morgan Stanley & Co. LLC; RBC Capital Markets, LLC; UBS Investment Bank; and Keefe, Bruyette & Woods, A Stifel Company served as joint bookrunning managers for the offering.
A shelf registration statement, including a prospectus, with respect to the offering was previously filed by Live Oak with the Securities and Exchange Commission (the “SEC”) on January 17, 2023. A prospectus supplement relating to the offering has been filed with the SEC. The offering has been made by means of a prospectus supplement and accompanying prospectus. You may obtain these documents for free by visiting EDGAR on the SEC’s website at www.sec.gov. Alternatively, the Company, any underwriter, or any dealer participating in the offering will arrange to send you the prospectus supplement if you request it by calling Morgan Stanley & Co. LLC toll-free at 1-866-718-1649, RBC Capital Markets, LLC at 1-866-375-6829, UBS Investment Bank at 1-833-481-0269 or Keefe, Bruyette & Woods, A Stifel Company at 1-800-966-1559.
About Live Oak Bancshares
Live Oak Bancshares, Inc. (NYSE: LOB) is a financial holding company and parent company of Live Oak Bank. Live Oak Bancshares and its subsidiaries partner with businesses that share a groundbreaking focus on service and technology to redefine banking. To learn more, visit www.liveoakbank.com.
Contacts:
Walter J. Phifer | CFO | Investor Relations | 910.202.6926
Claire Parker | Corporate Communications | Media Relations | 910.597.1592
FAQ
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