Benzinga | Apr 28, 2021 09:21AM EDT

First Horizon Announces Public Offering of Depositary Shares Representing Series F Preferred Stock and Expected Redemption of Series A Preferred Stock

First Horizon Corporation (NYSE:FHN) ("First Horizon") announced today a public offering of depositary shares, each representing 1/4,000th interest in a share of its Non-Cumulative Perpetual Preferred Stock, Series F, $100,000 liquidation preference per share (equivalent to $25 per depositary share). First Horizon may grant the underwriters a 30-day option to purchase additional depositary shares solely to cover over-allotments, if any. First Horizon intends to use the net proceeds of this offering to redeem in full the outstanding shares of its Non-Cumulative Perpetual Preferred Stock, Series A, and related depositary shares (NYSE:FHN); any remainder will be used for general corporate purposes.