Medallion Financial to buy back $15M in preferred securities for $11M
- Medallion Financial (MFIN) to repurchase $15M in trust preferred securities for $11.05M, or 73.66% of face value, under a settlement agreement with BIMIZCI Fund and ZimCal Asset Management.
- The company expects to record a gain in Q4 2026 from the discounted repurchase.
- Under the agreement, the investors accepted a five-year standstill prohibiting proxy solicitations and other campaigns against the company and agreed to dispose of their remaining Medallion common shares by December 31, 2026.
- The transaction is expected to close within 30 days.
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