Preferred Stock Offerings
By Ru Back Packer Staff, updated Sunday, January 28, 6:13 AM
Slide #214. Alcoa — Preferred Stock Offering
|Preferred Stock Offering Details:
||Alcoa (NYSE:AA) today announced that it has commenced an underwritten public offering, subject to market and other conditions, of 25,000,000 of its depositary shares ("Depositary Shares") (or up to 28,750,000 Depositary Shares if the underwriters of the offering exercise their over-allotment option in full). Each Depositary Share represents a 1/10th interest in a share of Alcoa's Class B Mandatory Convertible Preferred Stock, Series 1, par value $1.00 per share ("Mandatory Convertible Preferred Stock"), $500 liquidation preference per share of Mandatory Convertible Preferred Stock (equivalent to $50 per Depositary Share).
Alcoa is a vertically integrated aluminum company which comprised of bauxite mining, alumina refining, aluminum production (smelting, casting, and rolling), and energy generation. As of Dec 31 2016, Co. had 43 operating locations in 10 countries around the world, primarily in Australia, Brazil, Canada, Europe, and the U.S.
Preferreds: ARNC.PR, ARNC.PRB
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