Bread Financial prices 5 million preferred depositary shares offering
Bread Financial Holdings priced an underwritten public offering of 5,000,000 depositary shares, each representing a 1/40th interest in its 9.375% Series C fixed rate reset non-cumulative perpetual preferred stock. The company expects approximately $120,162,500 in net proceeds, assuming no exercise of the underwriters' option, for general corporate purposes that may include contributing or lending funds to its subsidiary bank, Comenity Capital Bank, and share repurchases. Shareholders will see new preferred securities outstanding once the offering closes, expected November 3, 2026.
Key points
- 5,000,000 depositary shares priced, each with a $25 liquidation preference (equivalent to $1,000 per Series C preferred share)
- Underwriters have a 30-day option to buy up to an additional 750,000 depositary shares at the same price
- Expected net proceeds of approximately $120,162,500 without option exercise; closing expected November 3, 2026
- Proceeds may fund general corporate purposes, including contributions or loans to Comenity Capital Bank and share repurchases
The filing
Written by AI on Nov 7, 2026, 11:17 PM ET, from this filing only.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.