BofA (BAC) Prices 825M Shares at $10/Share -CNBC
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According to CNBC's David Faber, Bank of America (NYSE: BAC) has priced 825 million shares at $10 per share, raising $8.25 billion. Faber also said BofA may exchange some of its preferred shares for common.
Faber said that the offering is the result of reverse inquiries.
Shares of BofA have fallen about 3% in the after-hours session.
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