Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Thu, December 2, 6:53 PM
|This Slide: #61 of 573|
Slide #61. Franchise Group, Inc. — Preferred Stock Offering
Franchise Group, Inc. (NASDAQ:FRG)
Date of Pricing:
Price Per Share:
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 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. updated 9/16- Franchise Group, Inc. (NASDAQ: FRG) ("Franchise Group" or the "Company") today announced the pricing of its underwritten registered public offering of 1,200,000 shares of 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 initial public offering price of $25.00 per share, raising gross proceeds of $30 million before deducting underwriting discounts, the structuring 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 180,000 shares of Preferred Stock. The offering is expected to close on or about September 18, 2020, subject to customary closing conditions.
Franchise Group is an owner and operator of franchised and franchisable businesses. Co. operates four reportable segments: Liberty Tax Service (Liberty Tax), which provides tax preparation services in the United States and Canada; Buddy's Home Furnishings (Buddy's), which is a retailer of consumer electronic, residential furniture, appliances and household accessories through rent-to-own agreements; American Freight, which is a retail chain providing furniture, mattresses and home accessories at discount prices; and The Vitamin Shoppe (Vitamin Shoppe), which is an omni-channel retailer of vitamins, minerals, herbs, supplements, sports nutrition and other health and wellness products.
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Strong Buy (3.67 out of 4)
(ranked higher than approx. 62% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com