Chicago, Nov. 17 – Atlanticus Holdings Corp. priced $135 million of 6 1/8% $25-par five-year notes (Egan-Jones: A) in an offer that was upsized from an announced $75 million, according to a term sheet.
There is an option to buy another $15 million of the notes.
The notes are being sold to the public at par.
The notes will be redeemable at a make-whole premium until Nov. 30, 2023, then at $25.50 per $25.00 principal amount until Nov. 30, 2024, then at $25.25 per $25.00 principal amount until Nov. 30, 2025, then at par.
Bookrunners are B. Riley Securities Inc., Janney Montgomery Scott LLC, Ladenburg Thalmann & Co. Inc. and William Blair & Co. LLC.
Proceeds will be used for general corporate purposes.
Atlanticus plans to apply to list the notes on the Nasdaq Global Select Market under the symbol “ATLCL.”
Atlanticus is based in Atlanta and invests in businesses primarily focused in the financial services industry.
| Issuer: | Atlanticus Holdings Corp.
|
| Amount: | $135 million
|
| Greenshoe: | $15 million
|
| Issue: | Senior notes
|
| Maturity: | Nov. 30, 2026
|
| Bookrunners: | B. Riley Securities Inc., Janney Montgomery Scott LLC, Ladenburg Thalmann & Co. Inc. and William Blair & Co. LLC
|
| Lead manager: | EF Hutton
|
| Co-managers: | Aegis Capital Corp., Brownstone Investment Group, LLC, InspereX LLC, Maxim Group LLC and B.C. Ziegler & Co.
|
| Coupon: | 6 1/8%
|
| Price: | Par
|
| Yield: | 6 1/8%
|
| Call features: | Make-whole call until Nov. 30, 2032, then at $25.50 per $25.00 principal amount until Nov. 30, 2024, then at $25.25 per $25.00 principal amount until Nov. 30, 2025, then at par
|
| Announcement date: | Nov. 17
|
| Trade date: | Nov. 18
|
| Settlement date: | Nov. 22
|
| Rating: | Egan-Jones: A
|
| Distribution: | SEC registered
|
| Listing: | Nasdaq: ATLCL
|
| Cusip: | 04914Y300
|
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