First Merchants (FRME) Buys Back TARP Common Warrant from Treasury
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On November 23, 2011, First Merchants Corporation (Nasdaq: FRME) repurchased a warrant to purchase 991,453 shares of the Company’s common stock at an exercise price of $17.55/share with an expiration date of February 20, 2019 held by the United States Department of the Treasury.
The Warrant was issued to the Treasury in connection with the Company’s previous participation in the Troubled Asset Relief Program (TARP). The Company was the successful bidder in a private auction for the Warrant conducted by the Treasury with a winning bid of $367,500.
The Warrant was issued to the Treasury in connection with the Company’s previous participation in the Troubled Asset Relief Program (TARP). The Company was the successful bidder in a private auction for the Warrant conducted by the Treasury with a winning bid of $367,500.
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