The U.S. Department of the Treasury said today it has priced its planned public offering of warrants in Lincoln National Corp.
Treasury priced the public offering at $16.60 per warrant for over 13 million warrants to purchase common stock in Lincoln National, Radnor, Pa. It plans to close the deal Sept. 22.
Net proceeds from the offering are expected to be $213,671,319, Treasury officials said.
Treasury plans a similar offering of warrants under federal bailout programs for the Hartford Financial Services Group Inc., Hartford.
Both insurers previously had repurchased Treasury’s stock investments in the firms.
The Treasury received the warrants in exchange for investments it made under its Capital Purchase Program and Targeted Investment Program.