BFH · Bread Financial Holdings, Inc.

Bread Financial Holdings, Inc. announced the pricing of an underwritten public offering of 4,800,000 depositary shares, each representing a 1/40th interest in a share of its 8.875% Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series B. The depositary shares have a liquidation preference of $25 per share (equivalent to $1,000 per share of Series B Preferred Stock). The offering is expected to generate net proceeds of approximately $115.3 million, after deducting underwriting discounts and estimated offering expenses, assuming the underwriters do not exercise their option to purchase an additional 720,000 depositary shares within 30 days. The company intends to use the net proceeds for general corporate purposes, which may include contributing or lending funds to its subsidiary bank, Comenity Capital Bank, and share repurchases. The offering is expected to close on May 12, 2026, subject to customary closing conditions. The depositary shares will be listed on the New York Stock Exchange. This capital raise strengthens the company's balance sheet and provides flexibility for strategic initiatives.