Thu, Jun 4th, 2009
Fifth Third Bancorp said it has completed the “at the market” common stock offering it announced in May.
The offering was raised to $1 billion from $750 million, Fifth Third said in a news release. As a result, it will issue almost 158 million shares at an average per-share price of $6.33.
The bank will use the net proceeds for general corporate purposes, including funding the cash premium portion of its Series G depositary shares and beginning repayment of the $3.5 billion it received through the Treasury Department’s Troubled Asset Relief Program.
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