MEDALLION FINANCIAL CORP 8-K

What Happened
Medallion Financial Corp. announced on April 28, 2026 that it closed a private placement under a Note Purchase Agreement with affiliates of JP Morgan Investment Management Inc. and other institutional investors for $75.0 million aggregate principal of 8.25% Senior Notes due May 1, 2031. The offering closed the same day and was exempt from registration under the Securities Act. The company said net proceeds are expected to be used for general corporate purposes.

Key Details

• Issuance: $75.0 million aggregate principal amount of 8.25% Senior Notes due May 1, 2031.
• Interest: Fixed 8.25% per year; paid semiannually on May 1 and November 1, beginning November 1, 2026.
• Security and ranking: Unsecured, unsubordinated obligations, ranking pari passu with Medallion’s existing and future unsecured, unsubordinated debt.
• Parties & filings: Note Purchase Agreement with JP Morgan affiliates and other institutional investors; full agreement and form of Note filed as Exhibit 4.1 and press release as Exhibit 99.1 to the 8-K.

Why It Matters
This transaction increases Medallion’s outstanding unsecured debt and establishes a fixed 8.25% interest cost through 2031. For investors, that means higher contractual interest payments beginning November 2026 and potential impacts on leverage and interest expense. The proceeds are for general corporate purposes (not specifically earmarked), and the notes carry no collateral and rank equally with other unsecured debt. Review the filed Note Purchase Agreement (Exhibit 4.1) and the company press release (Exhibit 99.1) for full terms.