Lincoln Bailout Warrants Raise $214 Million for U.S.
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Lincoln National Corp. bailout warrants raised $213.7 million for the U.S. Treasury Department, defraying costs of the government rescue program that helped the Philadelphia-based insurer return to profit.
The 13 million warrants to purchase Lincoln stock sold for $16.60 each, the Treasury announced today. The minimum bid price was $13.50, according to the Treasury’s offering statement. Lincoln purchased 2.9 million of the warrants from Treasury, the company said in a separate statement.