Pending Home Sales & Lehman Bailout
Pending Home Sales Apr +6.3% vs -1.0% Full Report
Inside the number: Yoy -13.1%; YTD -13.8%
Lehman Brothers, #4 US securities firm...
expects a massive $2.8 billion Q2 loss and plans to raise $6.0 billion in new capital in common and preferred stock offerings.
The $4.0 billion common stock offering was priced at $28 per share, a 13% discount to Friday's closing price.
The firm also priced a $2.0 billion public offering of 2 million shares of 8.75% noncumulative mandatory convertible preferred stock.
In an attempt to get things under control, Lehman unloaded about $130 billion of holdings during the quarter.
Inside the number: Yoy -13.1%; YTD -13.8%
Lehman Brothers, #4 US securities firm...
expects a massive $2.8 billion Q2 loss and plans to raise $6.0 billion in new capital in common and preferred stock offerings.
The $4.0 billion common stock offering was priced at $28 per share, a 13% discount to Friday's closing price.
The firm also priced a $2.0 billion public offering of 2 million shares of 8.75% noncumulative mandatory convertible preferred stock.
In an attempt to get things under control, Lehman unloaded about $130 billion of holdings during the quarter.
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