Bank of America (BAC) $18.8B Convertible Preferred Offering Coming Monday
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Bank of America (NYSE: BAC) will issue $18.8 billion in equity in the form of convertible preferred shares Monday CNBC's Gasparino reports.
Shareholders would be asked at a special meeting to be held within 105 days of issuance to approve an increase in the authorized shares outstanding in order to allow the "common equivalent securities" to be converted into common stock.
Shareholders would be asked at a special meeting to be held within 105 days of issuance to approve an increase in the authorized shares outstanding in order to allow the "common equivalent securities" to be converted into common stock.
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