Atlanticus Closes Over-Allotment Option in connection with Offering of Senior Notes

Rhea-AI Summary

Atlanticus Holdings Corporation (NASDAQ: ATLC) has successfully closed the full over-allotment option for its public offering of 6.125% Senior Notes due 2026. This resulted in an additional issuance of 600,000 Notes, generating approximately $14.5 million in net proceeds after underwriting discounts and commissions. The Notes are traded on the Nasdaq Global Select Market under the symbol 'ATLCL'. The offering was conducted under an effective shelf registration statement filed with the SEC.

Positive

• Raised approximately $14.5 million in net proceeds from the offering.
• Successful closure of full over-allotment option, indicating strong market demand.

Negative

• None.

ATLANTA, Nov. 30, 2021 (GLOBE NEWSWIRE) -- Atlanticus Holdings Corporation (NASDAQ: ATLC) (“Atlanticus,” “the Company”, “we,” “our” or “us”), a financial technology company which enables its bank, retail and healthcare partners to offer more inclusive financial services to millions of everyday Americans, today announced the closing of the full over-allotment option in connection with its underwritten registered public offering (the “Offering”) of 6.125% Senior Notes due 2026 (the “Notes”). Atlanticus issued an additional 600,000 Notes and received additional net proceeds of approximately $14.5 million after deducting underwriting discounts and commissions, but before deducting expenses and the structuring fee.

The Notes are listed on the Nasdaq Global Select Market under the symbol "ATLCL."

B. Riley Securities, Inc., Janney Montgomery Scott LLC, Ladenburg Thalmann & Co. Inc., and William Blair & Co., L.L.C. acted as book-running managers for the Offering. EF Hutton, division of Benchmark Investments, LLC acted as lead manager for the Offering. Aegis Capital Corp., Brownstone Investment Group, LLC, InspereX LLC, Maxim Group LLC and B.C. Ziegler & Company acted as co-managers 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 $26 billion in consumer loans over our 25-year operating history to support lenders that originate a range of consumer loan products. These products include retail and healthcare 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.

 

FAQ

What was the purpose of Atlanticus Holdings Corporation's recent offering of Senior Notes?

Atlanticus Holdings Corporation's recent offering aimed to raise funds through the issuance of 6.125% Senior Notes due 2026.

How much did Atlanticus Holdings Corporation raise from the Senior Notes offering?

Atlanticus Holdings Corporation raised approximately $14.5 million in net proceeds from the Senior Notes offering.

Where are Atlanticus Holdings Corporation's Senior Notes traded?

The Senior Notes are traded on the Nasdaq Global Select Market under the symbol 'ATLCL'.

Who managed the offering for Atlanticus Holdings Corporation?

B. Riley Securities, Janney Montgomery Scott, Ladenburg Thalmann, and William Blair acted as book-running managers for the offering.

What type of financial instrument did Atlanticus Holdings Corporation issue?

Atlanticus Holdings Corporation issued 6.125% Senior Notes due 2026.