JPMorgan (JPM) Confirms 142M Share Offering at $35.25/Share for Proceeds of $5B
JPMorgan Chase & Co. (NYSE: JPM) today announced that it priced an offering of 142.0 million shares of its common stock at a price to the public of $35.25 per share, or $5 billion in the aggregate. J.P. Morgan Securities Inc. served as sole bookrunning manager and underwriter for the transaction. The underwriter will have a 30-day option to purchase up to an additional 21.3 million shares of common stock from the company, solely to cover over-allotments. The closing is expected to occur on or about June 5, 2009, subject to customary closing conditions.
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