Atlanticus Closes $135 Million Offering of Senior Notes
November 22 2021 - 10:39AM
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 its previously announced
underwritten registered public offering (the “Offering”) of $135
million aggregate principal amount of 6.125% Senior Notes due 2026
(the “Notes”). The Offering resulted in net proceeds of
approximately $130.3 million after deducting underwriting discounts
and commissions, but before deducting expenses and the structuring
fee.
The Company granted the underwriters a 30-day option to purchase
up to an additional $15 million aggregate principal amount of the
Notes in connection with the Offering.
The Company expects to use the net proceeds of this Offering for
general corporate purposes.
The Notes have been approved for listing on the Nasdaq Global
Select Market ("Nasdaq") under the symbol "ATLCL" and are expected
to begin Nasdaq trading on November 23, 2021.
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.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. You generally can identify these statements by the use of
words such as “outlook,” “potential,” “continue,” “may,” “seek,”
“approximately,” “predict,” “believe,” “expect,” “plan,” “intend,”
“estimate” or “anticipate” and similar expressions or the negative
versions of these words or comparable words, as well as future or
conditional verbs such as “will,” “should,” “would,” “likely” and
“could.” These statements are subject to certain risks and
uncertainties that could cause actual results to differ materially
from those included in the forward-looking statements. These risks
and uncertainties include those risks described in the Company's
filings with the Securities and Exchange Commission and include,
but are not limited to, risks related to the extent and duration of
the COVID-19 pandemic and its impact on the Company, bank partners,
merchants, consumers, loan demand, the capital markets, labor
availability, supply chains and the economy in general; the
Company's ability to retain existing, and attract new, merchants
and funding sources; changes in market interest rates; increases in
loan delinquencies; its ability to operate successfully in a highly
regulated industry; the outcome of litigation and regulatory
matters; the effect of management changes; cyberattacks and
security vulnerabilities in its products and services; and the
Company's ability to compete successfully in highly competitive
markets. The forward-looking statements speak only as of the date
on which they are made, and, except to the extent required by
federal securities laws, the Company disclaims any obligation to
update any forward-looking statement to reflect events or
circumstances after the date on which the statement is made or to
reflect the occurrence of unanticipated events. In light of these
risks and uncertainties, there is no assurance that the events or
results suggested by the forward-looking statements will in fact
occur, and you should not place undue reliance on these
forward-looking statements.
Contact:Investor RelationsAdam PriorSenior Vice
PresidentThe Equity Group Inc.(212) 836-9606aprior@equityny.com
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