StocksMedium•12 November 2026•
1 min read
Live Oak Bancshares Closes $96.25M Depositary Share Offering
Key Facts
1Live Oak Bancshares announced the closing of its public offering of 4,000,000 depositary shares.
2Net proceeds from the offering amounted to approximately $96.25 million after expenses and commissions.
3The depositary shares represent interests in 8.750% Fixed Rate Series B Non-Cumulative Perpetual Preferred Stock.
Live Oak Bancshares announced the closing of its public offering of 4,000,000 depositary shares. GlobeNewswire reported that net proceeds from the offering amounted to approximately $96.25 million after deducting expenses and underwriting commissions. The depositary shares represent interests in 8.750% Fixed Rate Series B Non-Cumulative Perpetual Preferred Stock.
LOB closed at $34.3 on November 11, 2026, prior to the finalization of the offering intended to raise capital through the issuance of perpetual preferred stock. This capital raise is a standard liquidity-strengthening measure for mid-cap banks, involving fixed-rate dividend obligations.