U.S. earns $840 mln from Wells Fargo warrants

WASHINGTON (MarketWatch) — The Treasury Department estimated Friday that it will make a net profit of $840 million from its sale of warrants to purchase common stock of Wells Fargo & Co. . Treasury said it sold 110.2 million Wells Fargo warrants at $7.70 per warrant. The deals are expected to close on May 26. The offerings were priced through a modified Dutch auction. These offerings represent Treasury’s sale of its remaining investment in Wells Fargo. Treasury received the warrants in return for taxpayer assistance under the Troubled Asset Relief Program. Each warrant represents the right to purchase one share of common…

View more information: https://www.marketwatch.com/story/us-earns-840-mln-from-wells-fargo-warrants-2010-05-21-830470

Articles in category: moneyist
See also  Rite Aid says mask-wearing due to COVID-19 drove down cold- and flu-related sales by 37%

Leave a Reply

Back to top button