Printer Friendly

FIRST UNION STOCK OFFERING UNDERWRITERS EXERCISE OPTION FOR ADDITIONAL SHARES

 FIRST UNION STOCK OFFERING UNDERWRITERS
 EXERCISE OPTION FOR ADDITIONAL SHARES
 CHARLOTTE, N.C., April 6 /PRNewswire/ -- First Union Corporation (NYSE: FTU FTUpr) today announced that the underwriters for its 8.5 million share common stock offering have exercised their option to purchase an additional 1.275 million shares of First Union common stock to cover over-allotments.
 Sale of the total 9.775 million shares will bring First Union's outstanding common shares to 131.6 million and will represent approximately $330.2 million in additional equity capital.
 Of the shares being offered, 8.395 million shares are being offered in the United States and 1.38 million shares are being offered in a concurrent offering outside the United States.
 The managing underwriters for the domestic offering are Goldman, Sachs & Co.; The First Boston Corporation; and Smith Barney, Harris Upham & Co. Incorporated. The managing underwriters for the concurrent international offering are Goldman Sachs International Limited; Credit Suisse First Boston Limited and Smith Barney, Harris Upham & Co. Incorporated.
 First Union Corporation is the nation's 13th largest bank holding company, based on assets of $46.1 billion as of Dec. 31, 1991. First Union operates banking offices in Florida, North Carolina, South Carolina, Georgia, one banking office in Tennessee, and 209 non-banking offices in 36 states.
 -0- 4/6/92
 /CONTACT: Investor Contact -- Barbara Massa, 704-374-2555 or Maggie Norris, 704-374-4353; Media Contact - Jeep Bryant 704-374-2957 (W), 704-335-0415 (H), all of First Union Corporation.
 (FTU FTUpr) CO: First Union Corporation ST: North Carolina IN: FIN SU; OFR


DF -- CH007 -- 5508 04/06/92 16:07 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 6, 1992
Words:261
Previous Article:RIGHT MANAGEMENT CONSULTANTS ISSUES ANNOUNCEMENT
Next Article:QUALITY PRODUCTS, INC. ANNOUNCES $(.01) NET LOSS PER SHARE FOR THE YEAR ENDED DEC. 31, 1991


Related Articles
FIRST UNION PRICES COMMON STOCK OFFERING
UNION TEXAS PETROLEUM SECONDARY OFFERING PRICED AT $18.25 PER SHARE
78.5 MILLION SHARES OF THE ALLSTATE CORPORATION COMMON STOCK PRICED AT $27.00 PER SHARE
SUMMIT PROPERTIES CLOSES UNDERWRITERS' OVER-ALLOTMENT OPTION
UNION TEXAS PETROLEUM SECONDARY OFFERING PRICED AT $22.125 PER SHARE
UNION TEXAS PETROLEUM ANNOUNCES CLOSING OF SECONDARY OFFERING
UCAR'S REGISTRATION STATEMENT DECLARED EFFECTIVE
First USA Paymentech Prices Primary and Secondary Offerings
IXnet Announces Exercise of Over-Allotment Option For Public Offering of Common Stock.
Select Medical Corporation Announces Exercise of Over-Allotment Option.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters