Atlanticus Holdings (ATLC) has released an update to notify the public and investors about an entry into a material definitive agreement.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Atlanticus Holdings Corporation agreed to sell up to $100,000,000 of its Preferred Stock and Senior Notes through an “at the market” offering program managed by B. Riley Securities. On January 30, 2024, the company amended its indenture with U.S. Bank Trust Company, outlining the issuance of these Notes, which are unsecured obligations ranking equally with other senior unsecured debts and senior to future subordinated debts. These Notes are subordinated to secured debts and the liabilities of subsidiaries and bear a 6.125% annual interest, payable quarterly, with maturity due on November 30, 2026.
For further insights into ATLC stock, check out TipRanks’ Stock Analysis page.
For a comprehensive understanding of the announcement, you can read the full document here.