The Charles Schwab Corporation (NASDAQ: SCHW) has priced a public offering which contains 26,316,000 shares of its common stock at $19.00 per share. The company granted the underwriters a 30 day options to purchase up to 3,947,400 additional shares of common stock to allow for over allotments. The company believes that the net proceeds from the offering, after deducting discounts and commissions and estimated offering expanses, will be approximately $480.8 million. The company plans to use the net proceeds in order to support the balance sheet growth.
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About Charles Schwab
The Charles Schwab Corporation is a provider of financial services, engaging, through its subsidiaries, in securities brokerage, banking, and related financial services to individual investors and independent investment advisors.
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