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Article: Bank of the Ozarks, Inc. Announces Redemption of All Series a Preferred Stock.
- Article from:
- Investment Weekly News
- Article date:
- November 21, 2009
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Bank of the Ozarks, Inc. ("Company") (NASDAQ: OZRK) announced that earlier today it redeemed for $75 million, plus accrued and unpaid dividends all of its Series A Preferred Stock previously issued to the U.S. Department of the Treasury ("Treasury") pursuant to the Capital Purchase Program of the Troubled Asset Relief Program. The Company also submitted an offer to repurchase from the Treasury the warrant for 379,811 shares of the Company's common stock, which warrant was issued in conjunction with the Series A Preferred Stock.
Bank of the Ozarks, Inc. Chairman and Chief Executive Officer George Gleason stated, "Our Company has been well capitalized by all ...