By Devika Patel
Knoxville, Tenn., June 17 - BlackRock, Inc. disclosed details on its previously announced $2.8 billion fund-raising in three private placements of stock that were priced on June 11, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The company will sell 16,358,464 common shares at $140.60 apiece. It also will sell 3,556,188 of its series D preferred shares at the same price to PNC Financial Services Group, Inc.
Settlement is expected on June 25.
The company also said that Barclays plc has accepted its offer to acquire Barclays Global Investors.
The company will acquire all of Barclays Global's outstanding equity interests for about 37.8 million BlackRock common shares and participating preferred shares, along with $6.6 billion in cash.
BlackRock is an investment management firm based in New York.
| Issuer: | BlackRock, Inc.
|
| Issue: | Common stock
|
| Amount: | $2.8 billion
|
| Price: | $140.60
|
| Warrants: | No
|
| Pricing date: | June 11
|
| Settlement date: | June 25
|
| Stock symbol: | NYSE: BLK
|
| Stock price: | $182.60 at close June 11
|
| Market capitalization: | $21.8 billion
|
|
|
| Common stock
|
| Amount: | $2.3 billion
|
| Shares: | 16,358,464
|
|
|
| Preferreds
|
| Amount: | $500 million
|
| Shares: | 3,556,188
|
| Investor: | PNC Financial Services Group, Inc.
|
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