A 5-for-2 stock split effective May 5 has modified the value of two classes of warrants originally issued by Bank of Commerce as part of its initial public offering in September 1995.
Each of the bank's C and D class warrants, which originally allowed the purchase of one share of common stock, will now be good for 2.5 shares. The share price will be $12 for holders of C class warrants and $14 for D class.
The C class expires this July 25, and the D class on that date in 1999. The bank originally issued 250,000 warrants of each class. Bank of Commerce now has about five million shares outstanding.
The bank paid its 40th consecutive dividend on May 1 to shareholders of record March 31.