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LOB 8-K: Secondary offering

Filed with the SEC on · accession 0001462120-26-000081

LOB filed a 8-K (current report) with the SEC on Nov 12, 2026. Live Oak Bancshares completed the issuance and sale of 4,000,000 depositary shares, each representing a 1/40th interest in its 8.750% Fixed Rate Series B Non-Cumulative Perpetual Preferred Stock, raising $100 million in aggregate liquidation preference. The stock moved +1.0% by the first close after the filing.

Summary of the filing

Live Oak Bancshares completed the issuance and sale of 4,000,000 depositary shares, each representing a 1/40th interest in its 8.750% Fixed Rate Series B Non-Cumulative Perpetual Preferred Stock, raising $100 million in aggregate liquidation preference. The offering was conducted under an underwriting agreement with Morgan Stanley, Keefe Bruyette & Woods, RBC Capital Markets, and UBS Securities.

For details, click here →How to read a 8-K →

Key details

Aggregate liquidation preference of depositary shares issued$100.0M
Number of depositary shares issuedshares 4.0M
Liquidation preference per share of Series B Preferred Stock$1K
Liquidation preference per depositary share$25
IssuerLive Oak Bancshares, Inc.
UnderwriterMorgan Stanley & Co. LLC
UnderwriterKeefe, Bruyette & Woods, Inc.
UnderwriterRBC Capital Markets, LLC
UnderwriterUBS Securities LLC
DepositaryBroadridge Corporate Issuer Solutions, Inc.

How LOB stock reacted

Close before

$34.30

Nov 11, 2026

First close after

+0.96%

$34.63

5 trading days

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Since filing

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Frequently asked questions

What did LOB file with the SEC on Nov 12, 2026?

LOB filed a 8-K (Secondary offering). Live Oak Bancshares completed the issuance and sale of 4,000,000 depositary shares, each representing a 1/40th interest in its 8.750% Fixed Rate Series B Non-Cumulative Perpetual Preferred Stock, raising $100 million in aggregate liquidation preference. The offering was conducted under an underwriting agreement with Morgan Stanley, Keefe Bruyette & Woods, RBC Capital Markets, and UBS Securities.

What does a secondary offering mean for LOB stock?

New shares dilute existing holders and are often sold at a discount to the market price.

How do I read a 8-K?

A report of a major event, filed within four business days: results, deals, leadership changes, bankruptcy and more. The "Item" number tells you the topic (e.g. 2.02 results, 5.02 executive change, 1.01 new agreement, 1.03 bankruptcy). Exhibits (99.1 press release) usually hold the details.

Why are SEC filings important?

Public companies must tell the SEC about anything that can change their value — results, leadership changes, big deals, new shares, bankruptcy. Filings are the official source, often before the news. A 8-K (current report): A report of a major event, filed within four business days: results, deals, leadership changes, bankruptcy and more.

How did LOB stock react to this filing?

LOB closed at $34.30 before the filing and $34.63 on Nov 12, 2026 (+0.96%).

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