Medallion FinancialCorp. announced that underwriters of its notes offering exercised their option to purchase additional notesto cover overallotments.
The company sold approximately $3.6 million of 9.00% notes due2021 as part of the overallotment option. It has now issued a total of $33.6 millionof notes under the offering.
Medallion expects to use the net proceeds to make loans and otherinvestments in portfolio companies and for general corporate purposes, includingrepaying borrowings under its revolving credit facilities and expanding its operations.