As reported by General Motors
DETROIT, Mich. – General Motors Company today announced it has increased the estimated price range for the offering of 365 million shares of common stock to be sold by certain of its stockholders to $32.00 to $33.00 per share from the previously estimated price range of $26.00 to $29.00 per share.
The company also announced that it has increased the proposed size of its Series B mandatory convertible junior preferred stock offering from $3 billion to $4 billion, consisting of 80 million shares, excluding the amount that the underwriters have the option to purchase to cover over-allotments, if any. The final terms of both offerings will be determined at the time of pricing.
Morgan Stanley and J.P. Morgan (representatives of the underwriters), BofA Merrill Lynch, Citi, Goldman, Sachs & Co., Barclays Capital, Credit Suisse, Deutsche Bank Securities and RBC Capital Markets will be the joint book-running managers for the offering. Copies of the preliminary prospectus relating to the offering may be obtained for free, by visiting the Securities and Exchange Commission (SEC) website at http://www.sec.gov. Alternatively, you may obtain a copy of the preliminary prospectus, by contacting:
DETROIT, Mich. – General Motors Company today announced it has increased the estimated price range for the offering of 365 million shares of common stock to be sold by certain of its stockholders to $32.00 to $33.00 per share from the previously estimated price range of $26.00 to $29.00 per share.
The company also announced that it has increased the proposed size of its Series B mandatory convertible junior preferred stock offering from $3 billion to $4 billion, consisting of 80 million shares, excluding the amount that the underwriters have the option to purchase to cover over-allotments, if any. The final terms of both offerings will be determined at the time of pricing.
Morgan Stanley and J.P. Morgan (representatives of the underwriters), BofA Merrill Lynch, Citi, Goldman, Sachs & Co., Barclays Capital, Credit Suisse, Deutsche Bank Securities and RBC Capital Markets will be the joint book-running managers for the offering. Copies of the preliminary prospectus relating to the offering may be obtained for free, by visiting the Securities and Exchange Commission (SEC) website at http://www.sec.gov. Alternatively, you may obtain a copy of the preliminary prospectus, by contacting:
- Morgan Stanley & Co. Incorporated, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014, telephone 1-866-718-1649, or by sending an email to prospectus@morganstanley.com
- J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, telephone 1-866-803-9204