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AI brief of an SEC Form 8-K · Live Oak Bancshares, Inc. (LOB)

Live Oak Bancshares prices offering of 4 million preferred depositary shares

Neutral Impact 3 of 5 financing Written later

Live Oak Bancshares agreed on November 4, 2026 to sell 4,000,000 depositary shares, each representing a 1/40th interest in its 8.750% Series B non-cumulative perpetual preferred stock, at a $25 liquidation value per depositary share. The company expects the offering to close on or about November 12, 2026, and says the net proceeds will fund general corporate purposes, including balance sheet growth at Live Oak Banking Company and its capital position.

Key points

  • Underwriters are Morgan Stanley & Co. LLC, Keefe, Bruyette & Woods, RBC Capital Markets and UBS; the underwriters have a 30-day option for up to 600,000 additional depositary shares.
  • Dividends are 8.750% per annum, payable quarterly when declared by the board, beginning December 15, 2026.
  • The company may redeem the Series B preferred stock on or after December 15, 2031, or after a regulatory capital treatment event, at $1,000 per share ($25 per depositary share).
  • Live Oak intends to list the depositary shares on the NYSE under the symbol LOB/PB.

The filing

CompanyLive Oak Bancshares, Inc. (LOB)
Form8-K, current report
Filed with the SECNov 5, 2026, 4:25 PM ET
Accession number0001462120-26-000075

Items reported: 1.01 Material Definitive Agreement8.01 Other Events

Read the filing on SEC.gov ↗

Written by AI on Nov 9, 2026, 10:08 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on November 05, 2026.

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.