Capital One Financial (COF) Prices 14 Million Share Offering at $49 Per Share
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Capital One Financial Corporation (NYSE: COF) announced the pricing of a public offering of 14 million shares of its common stock at a gross public offering price per share of $49.00. Capital One has granted the underwriters a 30-day overallotment option to purchase up to 2.1 million additional shares of common stock.
Net proceeds from the offering will be used for general corporate purposes. The offering is being conducted as a public offering registered under the Securities Act of 1933. General corporate purposes may include repayment of debt, acquisitions, additions to working capital, capital expenditures and investments in the Company's subsidiaries. Net proceeds may be temporarily invested prior to deployment for their intended purposes.
Capital One Financial Corporation is a diversified banking company focused primarily on consumer and commercial lending and deposit origination. Its principal business segments are Local Banking and National Lending. [SM]
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