(The following is a reformatted version of a press release
issued by The U.S. Department of the Treasury and received via
e-mail. The release was confirmed by the sender.)
December 12, 2012
Treasury Department Announces Pricing of Public Offering of
Warrants to Purchase Common Stock of M&T BANK CORPORATION
WASHINGTON -- The U.S. Department of the Treasury announced
today that it priced a secondary public offering of 1,218,522
warrants to purchase common stock of M&T Bank Corporation (the
“Company”) at $26.50 per warrant. The aggregate net proceeds to
Treasury from the offering are expected to be $31,838,761.
These proceeds provide an additional return to the American
taxpayer from Treasury’s investment in the Company beyond the
dividend payments it received on the related preferred stock.
The closing is expected to occur on or about December 17, 2012,
subject to customary closing conditions. The offering was
priced through a modified Dutch auction. Deutsche Bank
Securities Inc. is the sole book-running manager for this
The warrants were offered pursuant to an effective shelf
registration statement that was filed by the Company with the
Securities and Exchange Commission (the “SEC”). A preliminary
prospectus supplement relating to the offering was filed with
the SEC on December 10, 2012, and a final prospectus supplement
will be filed by the Company with the SEC and will be available
on the SEC’s website at www.sec.gov.
Before you invest, you should read the prospectus in the
registration statement and other documents the issuer has filed
with the SEC for more complete information about the issuer and
this offering. You may get these documents for free by visiting
EDGAR on the SEC website at www.sec.gov. Alternatively, the
issuer, the underwriter or any dealer participating in the
offering will arrange to send you the base prospectus and
prospectus supplement if you request them from Deutsche Bank
Securities Inc., Attn: Prospectus Group, 60 Wall Street, New
York, New York 10005-2836, telephone: 1-800-503-4611, or by
email at prospectus.CPDG@db.com.
This news release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any
such state or jurisdiction.
Today’s announcement is part of Treasury’s ongoing efforts to
wind down the Troubled Asset Relief Program (TARP). Giving
effect to Treasury’s AIG common stock offering announced earlier
this week, more than 90 percent ($380 billion) of the $418
billion funds disbursed for TARP have already been recovered to
date through repayments and other income.
CONTACT: Treasury Public Affairs (202) 622-2960
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