Daily News: May 18, 2012

Medallion Financial Commences Offering Of Common Stock


Medallion Financial, a specialty finance company with a leading position servicing the taxicab industry and other niche markets, announced it has commenced an underwritten public offering of 3.5 million shares of its common stock.

Medallion said it expects to use the net proceeds from the offering to make loans and other investments in portfolio companies and for general corporate purposes, including repaying borrowings under our revolving credit facilities in the ordinary course of business.