OptimumBank Holdings, Inc. Announces Capital Structure Enhancements Reflecting Strong Institutional and Insider Alignment

Core Viewpoint - OptimumBank Holdings, Inc. has successfully completed a comprehensive modernization of its capital structure, establishing a transparent and high-performance equity foundation to support future asset growth [1]. Group 1: Capital Structure Modernization - The Company has amended and restated the terms of its Series B Preferred Stock to enhance clarity, consistency, and transparency for investors [5]. - The Series B Preferred Stock was unified into a single series, eliminating historical sub-series and simplifying disclosure, which improves comparability and transparency across reporting periods [6]. - The Series B Preferred Stock does not provide dividend income or additional economic participation, and its amendment was aimed at reducing complexity and enhancing financial reporting clarity [7]. Group 2: Institutional Investment and Support - AllianceBernstein has increased its economic exposure to the Company through open-market purchases, direct investments, and conversions of common stock into preferred stock, reflecting long-term confidence in the Company [2][3]. - The conversion of 350,000 shares of common stock into preferred stock allows AllianceBernstein to maintain appropriate governance alignment while increasing its economic stake [3][4]. - The non-voting shares held by AllianceBernstein are fully exchangeable into voting common stock, providing flexibility while supporting the Company's growth [4]. Group 3: Future Growth and Strategy - The Company aims to push past its current $1.1 billion asset milestone, with a streamlined capital structure and strong institutional participation positioning it well for continued growth [10]. - The coordinated efforts between major institutional partners and the Board reflect a unified conviction in the Company's future and its commitment to long-term value creation [10].