Bank of America announces average stock price for exchange offer.
Global Banking News - 06 July 2009(c)2005 - Electronic News Publishing - http://www.enpublishing.co.uk
Bank of America Corporation (BofA) (NYSE: BAC) has announced the common stock average price of USD12.7048 for its offers to exchange up to 200 million shares of common stock for outstanding depositary shares for each series of preferred stock.
The common stock average price represents the simple arithmetic average of the daily per share volume-weighted average price of Bank of America common stock for each of the five consecutive trading days ending on and including June 22, 2009.
The number of shares of common stock issuable for each exchanged depositary share was determined by dividing the applicable consideration per depositary share by USD12.7048, the common stock average price, and rounded to four decimal places.
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|Publication:||Global Banking News (GBN)|
|Date:||Jul 6, 2009|
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