BlackRock (BLK) Prices 28.753M Share Secondary Offering at $420/Sh
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BlackRock Announces Pricing of Secondary Offering of Common Stock
May 12, 2020 9:45 PM EDTNEW YORK--(BUSINESS WIRE)-- BlackRock, Inc. (the "Company") (NYSE: BLK) today announced the pricing of the secondary offering of 28,753,248 shares of common stock held by The PNC Financial Services Group, Inc. (NYSE: PNC) (PNC) at a price of $420 per share. BlackRock also agreed to purchase approximately 2.7 million shares directly from PNC, at a price of $414.96 per share (representing the price paid by the underwriters in the offering), for an aggregate purchase amount of $1.1 billion.
In connection with the offering, the underwriters have a 30-day option to purchase up... More
