|
|
 | | | |
- close
- close
- close
- close
This excerpt taken from the C 8-K filed Oct 13, 2009. Reset of Conversion Terms of the $12.5 Billion Convertible Preferred Stock
On January 23, 2009, pursuant to Citibank’s prior agreement with the purchasers of the $12.5 billion convertible preferred stock issued in a private offering during 2008, the conversion price was reset from $31.62 per share to $26.35 per share. The reset will result in Citigroup issuing approximately 79 million additional common shares if converted. There will be no impact to net income, total stockholders’ equity or capital ratios due to the reset. However, the reset will result in a reclassification from retained earnings to additional paid in capital of $1.2 billion to reflect the benefit of the reset to the preferred stockholders.
108
These excerpts taken from the C 10-K filed Feb 27, 2009. Reset of Conversion Terms of the $12.5 Billion Convertible Preferred Stock On January 23, 2009, pursuant to Citibank’s prior agreement with the purchasers of the $12.5 billion convertible preferred stock issued in a private offering during 2008, the conversion price was reset from $31.62 per share to $26.35 per share. The reset will result in Citigroup issuing approximately 79 million additional common shares if converted. There will be no impact to net income, total stockholders’ equity or capital ratios due to the reset. However, the reset will result in a reclassification from retained earnings to additional paid in capital of $1.2 billion to reflect the benefit of the reset to the preferred stockholders.
215
Table of Contents
Reset of Conversion Terms of the $12.5 Billion Convertible Preferred Stock On January 23, 2009, pursuant to Citibank’s prior agreement with the purchasers of the $12.5 billion convertible preferred stock issued in a private offering during 2008, the conversion price was reset from $31.62 per share to $26.35 per share. The reset will result in Citigroup issuing approximately 79 million additional common shares if converted. There will be no impact to net income, total stockholders’ equity or capital ratios due to the reset. However, the reset will result in a reclassification from retained earnings to additional paid in capital of $1.2 billion to reflect the benefit of the reset to the preferred stockholders.
215
Table of Contents
| EXCERPTS ON THIS PAGE:
|
| |||||||
