Preferred Stock Offerings

By Preferred Stock Channel Staff, updated Sun, March 7, 6:49 PM

This Slide: #3 of 521

Slide #3. Franchise Group, Inc. — Preferred Stock Offering

Company:	Franchise Group, Inc. (NASDAQ:FRGAP)
Date announced:	1/11/2021
Shares Offered:	2,976,191
Date of Pricing:	1/12/2021
Price Per Share:	$25.00
Preferred Stock Offering Details:	Franchise Group, Inc. (NASDAQ: FRG) ("Franchise Group" or the "Company") today announced it has commenced an underwritten registered public offering of shares of its 7.50% Series A Cumulative Perpetual Preferred Stock, par value $0.01 per share and liquidation preference of $25.00 per share (the "Preferred Stock"). The Company expects to grant the underwriters a 30-day option to purchase additional shares of the Preferred Stock in connection with the offering. This offering is a reopening of the Company's original issuance of Preferred Stock, which occurred on September 18, 2020. The additional shares of Preferred Stock sold in this offering will be consolidated, form a single series, and be fully fungible with all outstanding Preferred Stock. The Preferred Stock is listed on The NASDAQ Global Market under the symbol "FRGAP." -updated 1/12- Franchise Group, Inc. (NASDAQ: FRG) ("Franchise Group" or the "Company") today announced the pricing of its underwritten registered public offering of 2,976,191 shares of its 7.50% Series A Cumulative Perpetual Preferred Stock, par value $0.01 per share and liquidation preference of $25.00 per share (the "Preferred Stock"), at an offering price of $25.20 per share, raising gross proceeds of approximately $75 million before deducting underwriting discounts, the advisory fee and other estimated offering expenses. In connection with the offering, the Company has granted the underwriters a 30-day option to purchase up to an additional 446,428 shares of Preferred Stock. The offering is expected to close on or about January 15, 2021, subject to customary closing conditions. This offering is a reopening of the Company's original issuance of Preferred Stock, which occurred on September 18, 2020. The additional shares of Preferred Stock sold in this offering will be consolidated, form a single series, and be fully fungible with all outstanding Preferred Stock. The Preferred Stock is listed on The NASDAQ Global Market under the symbol "FRGAP."

Franchise Group is a franchisor, operator and acquirer of franchised and franchisable businesses. Co. operates in four reporting business segments: Liberty Tax, which provides tax preparation services in the U.S. and Canada; Buddy's Home Furnishings, which is a specialty retailer of consumer electronic, residential furniture, appliances and household accessories through rent-to-own agreements; Sears Outlet, which provides in-store and online access to purchase new, used, overstocked and scratched and dented products; and Vitamin Shoppe, which is an omni-channel specialty retailer of vitamins, minerals, herbs, specialty supplements, sports nutrition and other health and wellness products.
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