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Buy (2.73 out of 4)
21st percentile
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 Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Wednesday, April 24, 10:13 AM
Slide #420. Alcoa — Preferred Stock Offering
| Company: |
Alcoa (NYSE:AA) |
| Date announced: |
9/15/2014 |
| Shares Offered: |
25,000,000 |
| 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. Through direct and indirect ownership, Co. has various operating locations in several countries around the world, situated primarily in Australia, Brazil, Canada, Iceland, Norway, Spain, and the U.S. Co.'s operations comprise three reportable business segments: Bauxite, Alumina, and Aluminum. The Bauxite and Alumina segments primarily consist of a series of affiliated operating entities held in Alcoa World Alumina and Chemicals, a global, unincorporated joint venture between Co. and Alumina Limited. The Aluminum segment consists of Co.'s aluminum smelting and casting along with the majority of the energy production business. Preferreds: ARNC.PR, ARNC.PRB
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