Capital One (COF) Prices 56M "TARP-Payback" Offering at $27.75, 11.5% Discount
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Capital One Financial Corporation (NYSE: COF) announced the pricing of a public offering of 56 million shares of its common stock at a public offering price per share of $27.75.
Shares of COF closed at $31.34 on Friday
Capital One will grant the underwriters a 30-day option to purchase up to 8.4 additional shares of common stock.
Net proceeds of the offering are expected to be used for general corporate purposes and, subject to regulatory approval, for the repurchase of the Preferred Stock and Warrants issued and sold, in each case, to the U.S. Treasury as part of the Troubled Asset Relief Program Capital Purchase Program.
Shares of COF closed at $31.34 on Friday
Capital One will grant the underwriters a 30-day option to purchase up to 8.4 additional shares of common stock.
Net proceeds of the offering are expected to be used for general corporate purposes and, subject to regulatory approval, for the repurchase of the Preferred Stock and Warrants issued and sold, in each case, to the U.S. Treasury as part of the Troubled Asset Relief Program Capital Purchase Program.
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