April 25, 2011
E*TRADE Financial Announces Secondary Offering of 27,500,000 Shares of Common Stock by an Affiliate of Citadel LLC
NEW YORK--(BUSINESS WIRE)--
E*TRADE Financial Corporation (NASDAQ: ETFC) today announced that
Citadel Equity Fund Ltd., an affiliate of Citadel LLC, is offering
27,500,000 shares of E*TRADE's common stock in an underwritten offering.
Closing of the offering is expected to occur on or about April 29, 2011,
subject to customary closing conditions.
E*TRADE will not receive any proceeds from the proposed offering.
Morgan Stanley is the sole underwriter of this offering.
A copy of the preliminary prospectus supplement and accompanying
prospectus relating to the offering may be obtained by contacting:
Morgan Stanley Prospectus Department, 180 Varick Street, 2nd Floor, New
York, NY 10014, Attention: Prospectus Dept., Telephone: (866) 718-1649
A shelf registration statement relating to the offering was filed with
the Securities and Exchange Commission on April 17, 2009 and became
effective automatically upon filing. The offering is being made solely
by means of a prospectus supplement and accompanying prospectus. This
press release does not constitute an offer to sell or the solicitation
of an offer to buy securities and shall not constitute an offer,
solicitation or sale in any jurisdiction in which such offer,
solicitation or sale is unlawful.
About E*TRADE Financial
The E*TRADE Financial family of companies provides financial services
including online brokerage and related banking products and services to
retail investors. Specific business segments include Trading and
Investing and Balance Sheet Management. Securities products and services
are offered by E*TRADE Securities LLC (Member FINRA/SIPC). Bank products
and services are offered by E*TRADE Bank, a Federal savings bank, Member
FDIC, or its subsidiaries.
E*TRADE Financial, E*TRADE and the E*TRADE logo are trademarks or
registered trademarks of E*TRADE Financial Corporation. ETFC-G
Forward-Looking Statements: This press release contains
forward-looking statements relating to E*TRADE's expectations regarding
the completion of the offering. These forward-looking statements are
subject to a number of uncertainties and risks, which include, but are
not limited to, uncertainties and risks related to the satisfaction of
customary closing conditions relating to the public offering. There can
be no assurance that the public offering will be completed on the
anticipated timeframe or at all. Additional risks and uncertainties can
be found in the annual, quarterly and current reports on Form 10-K, Form
10-Q, and Form 8-K previously filed by E*TRADE with the Securities and
Exchange Commission (including information in these reports under the
caption "Risk Factors"). Any forward-looking statement included in this
release speaks only as of the date of this communication; the Company
disclaims any obligation to update any information.
© 2011 E*TRADE Financial Corporation. All rights reserved.
E*TRADE Financial Media Relations Contact
Financial Investor Relations Contact
Source: E*TRADE Financial Corporation
News Provided by Acquire Media