The U.S. Treasury Department announced Friday it stands to earn about $181.1 million from its sale of warrants to purchase common stock of Comerica Inc.
The Treasury sold roughly 11.5 million warrants at $16 each. The closing is expected to occur on or about Wednesday.
The warrants allow for one share of Comerica common stock to be purchased at an exercise price of $29.40.
The department announced plans Tuesday to sell the warrants to purchase common stock of the Dallas bank for a minimum bid price of $15 each.
"This offering represents Treasury's sale of its remaining investment in the company" through the Troubled Asset Relief Program, the department said.
