US to get $3.44m from warrants sale

WASHINGTON: The US Treasury Department said on Thursday that an offering of 3.98 million warrants to buy common stock of Associated Banc-Corp of Green Bay, Wisconsin, was priced at 90 cents a warrant.

The sale on Wednesday, handled by Deutsche Bank Securities Inc, will bring in about $3.44 million to Treasury and will represent a return to taxpayers for bailout help the bank received during the 2007-2009 financial crises.

The bank received $525 million in bailout money during the financial crisis, which it has since fully repaid, and Treasury acquired the warrants as part of that help. The closing on the warrants sale is to occur on or around Dec. 6.