Medallion Agrees To Buy From BIMIZCI $15M In Aggregate Liquidation Amount Of Trust Preferred Securities Issued By Medallion Financial Statutory Trust I, Due 2037, For $11M In Cash Plus Accrued And Unpaid Distributions Through Closing Date

ZimCal founder Stephen Hodges says the negotiated agreement concludes the firm's Medallion investment and returns the firm's focus to its core credit strategy.

Agreement provides for Medallion’s purchase of ZimCal’s trust preferred securities and the disposition of Medallion stock controlled by ZimCal.

MINNEAPOLIS, Oct. 19, 2026 (GLOBE NEWSWIRE) -- ZimCal Asset Management LLC and BIMIZCI Fund LLC (collectively, "ZimCal") today announced that they have entered into a Purchase and Settlement Agreement with Medallion Financial Corp. (NASDAQ:MFIN, "Medallion" or the "Company"))), under which Medallion has agreed to purchase from BIMIZCI $15,000,000 in aggregate liquidation amount of the trust preferred securities issued by Medallion Financial Statutory Trust I, due 2037, for a cash purchase price of $11,049,000 plus accrued and unpaid distributions through the closing date.

Under the agreement, ZimCal and its affiliates have also agreed to dispose of their remaining shares of Medallion common stock by December 31, 2026. The agreement contains customary standstill, mutual non-disparagement and non-litigation provisions, together with the withdrawal of certain campaign materials relating to the Company’s 2024 and 2026 annual meetings. The purchase is expected to close promptly following execution, subject to customary closing conditions.