Live Oak Bancshares Achieves Significant Fundraising Success

Author: Addison Perry Updated: 08-04-2025 04:28 PM

Live Oak Bancshares Successfully Concludes Deposit Share Offering

Live Oak Bancshares, Inc. (NYSE: LOB) has announced a significant milestone with the successful closing of its underwritten offering. The company offered 4,000,000 depositary shares, each representing a 1/40th interest in its 8.375% Fixed Rate Series A Non-Cumulative Perpetual Preferred Stock. This offering is a notable event for the financial landscape, with a liquidation preference set at $25 per depositary share.

Proceeds from the Offering

Following the public offering, Live Oak Bancshares has successfully raised approximately $96,150,000. This sum is net of estimated expenses, underwriting discounts, and commissions. The capital raised is expected to bolster the company's operations and strategic initiatives, aiding in its mission to redefine banking through innovative service and technology solutions.

Key Underwriters Involved

To ensure the success of this offering, several well-regarded financial institutions acted as joint bookrunning managers. These included Morgan Stanley & Co. LLC, RBC Capital Markets, LLC, UBS Investment Bank, and Keefe, Bruyette & Woods, a Stifel Company. Their expertise and backing lent significant credibility to the offering, facilitating investor confidence.

Registration and Prospectus Information

Prior to this offering, Live Oak Bancshares had filed a shelf registration statement, which included a prospectus, with the Securities and Exchange Commission (SEC). This filing occurred on January 17, 2023. The prospectus supplement for this offering has also been filed and is available for investors to review.

Accessing the Prospectus

For those interested in obtaining further information about the offering, the documents are accessible for free through the SEC’s EDGAR platform. Alternatively, potential investors can request the prospectus supplement directly from the underwriters by making a call to Morgan Stanley, RBC Capital Markets, UBS Investment Bank, or Keefe, Bruyette & Woods.

About Live Oak Bancshares, Inc.

Live Oak Bancshares, Inc. serves as a financial holding company, along with being the parent company of Live Oak Bank. This innovative company places its focus on partnering with businesses that share a commitment to exceptional service and technological advancement. The vision of Live Oak Bancshares is clear: to redefine and enhance the banking experience for its customers.

Get in Touch

For additional information, stakeholders can directly contact company representatives. Walter J. Phifer serves as the CFO and is responsible for investor relations, reachable at 910.202.6926. Claire Parker, representing corporate communications, can be contacted for media inquiries at 910.597.1592.

Frequently Asked Questions

What is the primary focus of Live Oak Bancshares?

Live Oak Bancshares, Inc. focuses on delivering innovative banking solutions through a blend of service excellence and technology.

How much money did Live Oak Bancshares raise from the offering?

The company successfully raised approximately $96,150,000 from the underwritten offering of depositary shares.

Who were the underwriters involved in the offering?

The underwriters included Morgan Stanley, RBC Capital Markets, UBS Investment Bank, and Keefe, Bruyette & Woods.

Where can I find the prospectus for the offering?

The prospectus can be found on the SEC’s EDGAR platform or obtained by contacting the underwriters directly.

Who can I contact for more information about Live Oak Bancshares?

Contact Walter J. Phifer for investor relations at 910.202.6926 or reach out to Claire Parker for media inquiries at 910.597.1592.

About The Author

Hello, I'm 30-year-old financial writer and expert Addison Perry, and I love to simplify the intricacies of the financial industry. I've committed myself over the years to deciphering the subtleties of investing techniques and economic trends and converting them into doable guidance that anybody can use. My goal with writings and books is to make money interesting and approachable so that readers may take charge of their financial futures.

My enthusiasm to empowerment and education has propelled me through my career in finance. I write because I think that everyone should be able to make educated financial decisions, and I try to provide that. Regardless of experience level with investing, my work is intended to provide insightful analysis and practical advice to enable you to thrive in the always changing financial environment. I appreciate you traveling with me toward success and financial literacy.

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