CHARLOTTE, N.C., April 17 /PRNewswire-FirstCall/ -- Wachovia
Corporation (NYSE: WB) announced today that the underwriters of its
concurrent offerings of 145,833,334 shares of common stock and 3,500,000
shares of Non-Cumulative Perpetual Convertible Class A preferred stock,
Series L, have exercised in full their over-allotment options to purchase
an additional 21,875,000 shares of common stock and an additional 525,000
shares of convertible preferred stock. The prices for the additional shares
of common stock and shares of convertible preferred stock are the same
prices, respectively, at which the 145,833,334 shares of common stock and
3,500,000 shares of convertible preferred stock were sold to the
underwriters.
Wachovia Securities is serving as global coordinator and joint
bookrunning manager and Goldman, Sachs & Co. is serving as joint
bookrunning manager of these offerings. The offerings are being made under
Wachovia Corporation's shelf registration statement filed with the
Securities and Exchange Commission.
This news release does not constitute an offer to sell or the
solicitation of an offer to buy securities. Any offer of securities will be
made by means of the prospectus supplement and accompanying prospectus
relating to each offering. Copies of the prospectus supplement and
accompanying prospectus relating to each offering can be obtained by
contacting: Wachovia Securities, Attn: Equity Syndicate, 375 Park Avenue,
New York, New York 10152-4077 or email: equity.syndicate@wachovia.com; or
Goldman, Sachs & Co., Attn: Prospectus Dept., 85 Broad St., New York, NY
10004, Fax: 212 902 9316 or email at prospectus-ny@ny.email.gs.com.
About Wachovia
Wachovia Corporation (NYSE: WB) is one of the nation's largest
diversified financial services companies, with assets of $808.9 billion and
market capitalization of $53.8 billion at March 31, 2008. Wachovia provides
a broad range of retail banking and brokerage, asset and wealth management,
and corporate and investment banking products and services to customers
through 3,300 retail financial centers in 21 states from Connecticut to
Florida and west to Texas and California, and nationwide retail brokerage,
mortgage lending and auto finance businesses. Globally, clients are served
in selected corporate and institutional sectors and through more than 40
international offices. Our retail brokerage operations under the Wachovia
Securities brand name manage more than $1.1 trillion in client assets
through 18,600 registered representatives in 1,500 offices nationwide.
SOURCE Wachovia Corporation
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Related links:
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CONTACT:
Media Contact: Christy Phillips-Brown,
+1-704-383-8178, Mary Eshet, +1-704-383-7777, Investor Contacts:
Alice Lehman, +1-704-374-4139, Ellen Taylor, +1-212-214-1904, all
of Wachovia Corporation
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