BlackRock announces secondary pricing
09 November 2010 New York
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BlackRock, Inc. (the "Company") (NYSE: BLK) today announced that it has priced the secondary offering of 51,075,758 shares of its common stock, which includes 43,575,758 shares of its common stock offered by Bank of America Corporation and 7,500,000 shares of its common stock offered by The PNC Financial Services Group, Inc. at a price per share of $163.00. Bank of America Corporation has also granted the underwriters a 30-day option to purchase an additional 5,207,376 shares of the Company's common stock on the same terms and conditions, solely to cover over-allotments, if any. The shares of common stock to be sold include shares of common stock issuable upon conversion of BlackRock's Series B Preferred Stock.
BofA Merrill Lynch, Morgan Stanley & Co. Incorporated and Barclays Capital are serving as joint book-running managers for the offering.
The Company will not receive any proceeds from the secondary offering. The secondary offering will be made pursuant to a prospectus supplement to the Company's prospectus, dated September 13, 2010, filed as part of the Company's effective shelf registration statement relating to these securities.
Concurrently with the closing of this offering, Bank of America Corporation intends to sell an additional 2,453,988 shares to an institutional investor at the offering price in a direct placement registered under the Securities Act, subject to approval by the investor’s board of directors. BofA Merrill Lynch and Morgan Stanley will act as the placement agents for the direct placement.
A preliminary prospectus supplement and the accompanying base prospectus relating to the offering have been filed with the Securities and Exchange Commission and are available at its website, http://www.sec.gov. Copies of the prospectus supplement and accompanying base prospectus relating to the offering may also be obtained when available from:
BofA Merrill Lynch, Morgan Stanley & Co. Incorporated and Barclays Capital are serving as joint book-running managers for the offering.
The Company will not receive any proceeds from the secondary offering. The secondary offering will be made pursuant to a prospectus supplement to the Company's prospectus, dated September 13, 2010, filed as part of the Company's effective shelf registration statement relating to these securities.
Concurrently with the closing of this offering, Bank of America Corporation intends to sell an additional 2,453,988 shares to an institutional investor at the offering price in a direct placement registered under the Securities Act, subject to approval by the investor’s board of directors. BofA Merrill Lynch and Morgan Stanley will act as the placement agents for the direct placement.
A preliminary prospectus supplement and the accompanying base prospectus relating to the offering have been filed with the Securities and Exchange Commission and are available at its website, http://www.sec.gov. Copies of the prospectus supplement and accompanying base prospectus relating to the offering may also be obtained when available from:
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