By Devika Patel
Knoxville, Tenn., Oct. 18 – RiverNorth Marketplace Lending Corp. priced $36 million of 5.875% series A term preferred shares due Oct. 31, 2024 at par with a $25.00 liquidation preference, according to a prospectus filed with the Securities and Exchange Commission.
The company sold 1.44 million preferreds.
There is an over-allotment option for 216,000 shares for an additional $5.4 million.
Dividends will be payable on a monthly basis. The preferreds are redeemable on or after Oct. 31, 2020 at par plus dividends.
Ladenburg Thalmann & Co. Inc. and Janney Montgomery Scott LLC are the bookrunners.
The issuer expected to list the securities on the New York Stock Exchange under the symbol “RMPL.”
RiverNorth Marketplace Lending is a closed-end management investment company based in Chicago.
| Issuer: | RiverNorth Marketplace Lending Corp.
|
| Issue: | Series A term preferred shares
|
| Amount: | $36 million, or 1.44 million shares
|
| Greenshoe: | $5.4 million or 216,000 shares
|
| Maturity: | Oct. 31, 2024
|
| Bookrunners: | Ladenburg Thalmann & Co. Inc. and Janney Montgomery Scott LLC
|
| Dividend: | 5.875%
|
| Price: | Par of $25.00
|
| Yield: | 5.875%
|
| Call option: | On or after Oct. 31, 2020 at par plus dividends
|
| Pricing date: | Oct. 18
|
| Settlement date: | Oct. 25
|
| Expected listing: | NYSE: RMPL
|
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