03/06/26 - Press Release: Medallion Financial’s recent debt maturity is evidence of significant issues
ZimCal shows how excessive holding company expenses and poor leadership by the CEO and board of Medallion Financial Corp. are holding back value - most recently by preventing a $31.25 million debt refinance prior to maturity and being forced to deplete cash balances. Through public and private channels over the last 2 1/2 years, ZimCal has tried to work with MFIN to increase its multiples and valuation. ZimCal even provided a 30+ page version of its 5 Steps to Improvement white paper to enhance value, but was ignored despite being one of Medallion’s largest investors. ZimCal’s long-term view remains overwhelmingly positive if MFIN has the right governance and leadership team in place.