Medallion Financial Corp: repurchase of $15,000,000 trust preferred securities

What happened

• On Oct 16, 2026, Medallion Financial Corp entered into a Purchase and Settlement Agreement with BIMIZCI Fund LLC and ZimCal Asset Management LLC. Under the Purchase Agreement, the company agreed to purchase trust preferred securities of Medallion Financing Trust I having a liquidation amount of $15,000,000 for an aggregate cash purchase price equal to $11,049,000, plus accrued but unpaid distributions. The closing of the repurchase is subject to customary closing conditions.
• On Oct 19, 2026, the company issued a press release announcing the repurchase and the Purchase Agreement.

Key details

• Liquidation amount of Trust Preferred Securities: $15,000,000.
• Aggregate cash purchase price: $11,049,000, plus accrued but unpaid distributions.
• Standstill period for the investor parties runs until Oct 16, 2031; non-disparagement obligations run until Oct 16, 2028.
• Investor parties agreed to dispose of all securities they beneficially own by no later than Dec 31, 2026. The Purchase Agreement may be terminated if the closing has not occurred on or before the 20th business day after the date of the Purchase Agreement, subject to exceptions.

Why it may matter

• Item 1.01 (entry into a material definitive agreement) covers the Purchase and Settlement Agreement and its terms, including the repurchase price, standstill, non-disparagement, and related covenants. Item 7.01 (Regulation FD disclosure) covers the press release the company furnished. The filing does not show why the insider traded or why the company acted.