Interactive TV company iMedia Brands (IMBI) has announced a new offering of baby bonds.
The senior notes will carry a coupon of 8.50% and will have a maturity date on 9/30/2026. 3 million shares (bonds) are proposed to be sold.
As I have come to expect on marginal offerings from B Riley these notes will carry a bonus rate for early redemption starting on 9/30/2023 at $25.75 and reducing to $25.25 on 9/30/2025 until maturity.
The issue should carry the permanent ticker of IMBIL when it trades on the NASDAQ.