Live Oak Bancshares, Inc. announced the pricing of an underwritten offering of 4,000,000 depositary shares, each representing a 1/40th ownership interest in a share of 8.375% Fixed Rate Series A Non-Cumulative Perpetual Preferred Stock with a liquidation preference of $25 per depositary share. Dividends will be payable on the Series A Preferred Stock at a rate of 8.375% per annum, with net proceeds to be used for general corporate purposes. The offering is expected to close on or about August 4, 2025, with joint bookrunning managers including Morgan Stanley & Co. LLC and UBS Investment Bank.

Read more at GlobeNewswire: Live Oak Bancshares, Inc. Prices Depositary Share Offering