- Treasury Releases Completed Transactions Report, Offers Warrant Positions
- September 17, 2010
- Law Firm: Alston Bird LLP - Atlanta Office
On Tuesday, Treasury released its most current transactions report for the period ended September 10, 2010. The report reflects the exchange of $4,205,000 of subordinated debt (and an additional investment of $3,881,000) in IBC Bancorp, Inc. from the Capital Purchase Program (CPP) into the Community Development Capital Initiative (CDCI). The Bancorp, Inc. and Fulton Financial Corporation also repurchased their warrants issued under the CPP, garnering a total of $15,553,985 for the Treasury.
There is now $170,711,000 invested in the CDCI and $55,058,164,785 (net of repayments) invested in the CPP.
Treasury also recently announced its intent to offer warrant positions in public Dutch auctions over the coming weeks, including a secondary public offering of 13,049,451 warrants to purchase the common stock of Lincoln National Corporation. The offering is expected to price through a modified Dutch auction which will begin and close on September 16th with a minimum bid price of $13.50 per warrant.