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'Bank of America sells 825 million shares at $10 each'

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Bank of America sells 825 million shares at $10 each

05/23/09 09:01

The Bank of America offered 825 million company stocks priced at $10 each and has now earned $13.5 billion in this secondary offering.

This is nearly half of the $33 billion capital shortfall identified in the government "stress test."

The average price of $10 is around 10 percent lower than the closing price of $11.25 in the market.

Link: Bank of America Secondary Stock Offering: BofA Prices 825 Million Shares at $10 a Piece - Financials * US * News * Story - CNBC.com

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