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Article: E*TRADE FINANCIAL Raises More Than $600 Million of Common Equity in Second Quarter.
- Article from:
- Business Wire
- Article date:
- June 24, 2009
CopyrightCOPYRIGHT 2009 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Common Stock Offering Completed; Underwriters Exercise Over-Allotment
NEW YORK -- E*TRADE FINANCIAL Corporation (NASDAQ: ETFC) today announced that it has closed its Common Stock Offering, which raised gross proceeds of $550 million. This includes proceeds from the sale of 65,000,000 shares issued upon exercise of the underwriters' over-allotment option. When combined with the $65 million raised under its previously disclosed Equity Drawdown Program, the Company has raised more than $600 million of cash common equity this quarter. The net proceeds, after commissions, from equity offerings in the second quarter were approximately $586 million.
"We are ...