KORR Acquisitions Group Sends Whitepaper to Medallion’s Board Pushes for Share Buybacks, Costs Savings and Focus on Profitable Industrial Bank

Rhea-AI Summary

KORR Acquisitions Group, Inc. has submitted a white-paper to the Board of Medallion Financial, Inc. (NASDAQ:MFIN) advocating for measures to enhance shareholder value, claiming MFIN's true worth exceeds $20 per share. KORR holds nearly 5% of MFIN shares and is urging the company to consider share buybacks, cost savings, and to concentrate on its profitable industrial bank. The proposal was presented at the Co/Investor Club's event on February 17, 2021, marking a significant engagement by a notable shareholder.

Positive

• KORR's initiative could lead to enhanced shareholder value.
• Potential for share buybacks may increase stock price.
• Focus on profitable industrial banking could improve financial performance.

Negative

• None.

NEW YORK, NY / ACCESSWIRE / February 17, 2021 / KORR Acquisitions Group, Inc. (together with its affiliates, including KORR Value, LP, "KORR"), a shareholder with a just under 5% position in Medallion Financial, Inc. (NASDAQ:MFIN) ("MFIN" or the "Company"), today announced that it has delivered a white-paper to the Board of Directors of Medallion Financial, Inc., outlining a pathway for increasing shareholder value. KORR is pushing for change that it believes will unlock MFIN's true value of over $20 per share. The full text of KORR's white-paper can be viewed at the following link:

https://korracquisitions.com/korr-medallion/

KORR is also presenting this white-paper at Co/Investor Club's "Lunch at the Club" at 12 noon today. To sign up and attend the presentation, readers can sign up here:

https://www.webcaster4.com/Webcast/Page/2608/39816

About KORR Value L.P. and KORR Acquisitions Group, Inc.
KORR Acquisitions Group, Inc. is a New York based investment adviser that is focused on investing in undervalued publicly traded companies. KORR actively engages with managements to identify ways to unlock value for all shareholders and stakeholders.

Investor Contact:
Kenny Orr
(855)-KORRVLU

SOURCE: KORR Acquisitions Group, Inc.

View source version on accesswire.com:
https://www.accesswire.com/630021/KORR-Acquisitions-Group-Sends-Whitepaper-to-Medallions-Board-Pushes-for-Share-Buybacks-Costs-Savings-and-Focus-on-Profitable-Industrial-Bank

FAQ

What is KORR Acquisitions Group proposing for Medallion Financial (MFIN)?

KORR is proposing measures to enhance shareholder value including share buybacks, cost savings, and focusing on profitable industrial banking.

How much of Medallion Financial (MFIN) does KORR own?

KORR owns just under 5% of Medallion Financial's shares.

What does KORR believe MFIN's true value is?

KORR believes the true value of Medallion Financial exceeds $20 per share.

When was the white-paper presented to Medallion Financial's Board?

The white-paper was presented on February 17, 2021, at the Co/Investor Club's event.