I realize in one filing it states that Sterling was sold...I believe in another filing, which I'm digging for now, it had shown we still had a stake in Sterling of around 205,000 shares...any help would be appreciated here:)
US - State-owned United States Department of Treasury acquired warrants convertible into a 10.99% stake, or 6.438 mil common shares, in Sterling Financial Corp, Spokane, Washington, a bank holding company, and a majority-owned unit of SoftNet Technology Corp, for $7.06 per share, or a total value of $45.45 mil, in a privately negotiated transaction. The transaction had been subject to standard closing documents completion and shareholder approval. The transaction was part of the Troubled Asset Relief Program, in which the US Treasury announced that it would invest up to $250 bil in senior preferred equity in qualifying US controlled banks, savings associations, and certain bank and savings and loan and loan holding companies. Under the terms of the plan, the senior non- voting, non-convertible preferred shares will pay a 5% dividend for the first five years and a 9% dividend thereafter and the US Treasury will receive the right to purchase common stock equal to 15% of its preferred equity investment in each firm in the form of common share purchase warrants.
Acquirer: US Dept of the Treasury
Acquirer Business Discription: Natl agcy
Acquirer Ultimate Parent: United States of America
Acquirer SIC Code: 999B - National government agency
Target Name: Sterling Financial Corp,WA
Target Business Description: Bank hldg co
Target Ultimate Parent: SoftNet Technology Corp
Target SIC Code: 6712 - Offices of bank holding companies
