InvestorsHub Logo
Followers 0
Posts 408
Boards Moderated 0
Alias Born 01/16/2011

Re: None

Thursday, 08/25/2011 12:29:09 PM

Thursday, August 25, 2011 12:29:09 PM

Post# of 26631
And someone said PTQ was the only company giving out free warrants lol!

Berkshire Hathaway to Invest $5 Billion in Bank of America

Business Wire

CHARLOTTE, N.C. -- August 25, 2011

Bank of America Corporation announced today that it reached an agreement to
sell 50,000 shares of Cumulative Perpetual Preferred Stock with a liquidation
value of $100,000 per share to Berkshire Hathaway, Inc. in a private offering.
The preferred stock has a dividend of 6 percent per annum, payable in equal
quarterly installments, and is redeemable by the company at any time at a 5
percent premium.

In conjunction with this agreement, Berkshire Hathaway will also receive
warrants to purchase 700,000,000 shares of Bank of America common stock at an
exercise price of $7.142857 per share. The warrants may be exercised in whole
or in part at any time, and from time to time, during the 10-year period
following the closing date of the transaction. The aggregate purchase price to
be received by Bank of America for the preferred stock and warrants is $5
billion in cash.
Join InvestorsHub

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.