Bread Financial Holdings, Inc. (NYSE: BFH) has announced the pricing of its underwritten public offering of depositary shares, with each representing a 1/40th interest in a share of its non-cumulative perpetual preferred stock, series A. The offering is expected to result in approximately $72,637,500 in net proceeds to the company, after deducting underwriting discounts and estimated offering expenses.
The company intends to use the net proceeds for general corporate purposes, including contributing or lending a portion of the proceeds to its subsidiary bank, Comenity Capital Bank, and share repurchases.
Wells Fargo Securities, LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, and RBC Capital Markets, LLC are acting as joint bookrunners for the offering.
This offering is being made pursuant to an effective registration statement on Form S-3 previously filed with the Securities and Exchange Commission (SEC) and a prospectus supplement. The offering is expected to close on November 25, 2025, subject to customary closing conditions.
Bread Financial is a tech-forward financial services company that provides simple, personalized payment, lending, and saving solutions to millions of U.S. consumers. The company's payment solutions, including general purpose credit cards and savings products, aim to empower its customers and their passions for a better life. Additionally, the company delivers growth for recognized brands in various sectors through private label and co-brand credit cards and pay-over-time products, providing choice and value to shared customers. The market has reacted to these announcements by moving the company's shares -1.09% to a price of $61.67. Check out the company's full 8-K submission here.
