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The bank said it is selling 5.4 million common shares at $3.15 apiece and 35 million tangible equity units, which can be converted into common stock at a later date, for $100 each. It is selling the shares as part of its effort to repay bailout funds. The government, meanwhile, backed out of selling any of its 34 percent stake in the bank.
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Full story at http://www.npr.org/templates/story/story.php?storyId=121543867&ft=1&f=1006
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