Filed under: Deals, JPMorgan Chase (JPM), Financial Crisis
Last year, the Treasury Department received warrants when it injected billions in JPMorgan Chase & Co. (JPM). JPMorgan received $25 billion in bailout money in October 2008 and paid the money back last June.
The government received 88.4 million warrants. They were sold at auction at a price of $10.75. The conversion price for the warrants is $42.42 a share. That means when the stock reaches that price, the warrants can be converted into stock worth $3.75 billion. The Treasury received $936 million from Thursday's auction.
Continue reading U.S. sells JPMorgan warrants for $936 million
U.S. sells JPMorgan warrants for $936 million originally appeared on BloggingStocks on Sat, 12 Dec 2009 14:20:00 EST. Please see our terms for use of feeds.
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Full story at http://www.pheedcontent.com/click.phdo?i=2619216589fe9d8d87af818ae99d6f97
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