Fidelity Southern Corp. (LION) said Tuesday that it has commenced an underwritten public offering of $60 million of its common stock.
The company plans to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of common stock sold pursuant to the transaction to cover over-allotments, if any.
The company said it plans to use the net proceeds from the offering, together with its cash on hand as necessary, to:redeem the $48.2 million in shares of its Fixed Rate Cumulative Perpetual Preferred Stock, Series A, originally issued to the U.S. Department of the Treasury under the Troubled Asset Relief Program Capital Purchase Program; and redeem the two series of its fixed rate trust preferred securities with an aggregate outstanding principal amount of $20.5 million, plus an estimated $410 thousand of after-tax redemption premiums.
The company plans to use any remaining net proceeds for general corporate purposes.
For comments and feedback contact: editorial@rttnews.com
Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.