Summary
MetLife, Inc. (MET) filed an 8-K report on June 13, 2005, detailing significant capital raising activities. On June 9, 2005, the company entered into underwriting and pricing agreements for the sale of 60,000,000 shares of its 6.50% Non-Cumulative Preferred Stock, Series B. This offering is being conducted under a previously filed shelf registration statement and a prospectus supplement dated June 9, 2005. Additionally, the filing includes an opinion and consent from MetLife's legal counsel, LeBoeuf, Lamb, Greene & MacRae, L.L.P., dated June 13, 2005, pertaining to the validity of MetLife's Floating Rate Non-Cumulative Preferred Stock, Series A, which was issued on the same date. Investors should note these transactions represent efforts by MetLife to strengthen its capital position through the issuance of preferred stock.
Key Highlights
- 1MetLife, Inc. entered into an underwriting and pricing agreement on June 9, 2005, for the sale of 60,000,000 shares of 6.50% Non-Cumulative Preferred Stock, Series B.
- 2The offering of Series B preferred shares is being made under a shelf registration statement filed on April 27, 2005, and a prospectus supplement dated June 9, 2005.
- 3Key underwriters for the Series B preferred stock offering include Banc of America Securities LLC, Goldman, Sachs & Co., and Merrill Lynch, Pierce, Fenner & Smith Incorporated.
- 4On June 13, 2005, MetLife's legal counsel provided an opinion regarding the validity of the Floating Rate Non-Cumulative Preferred Stock, Series A.
- 5The Series A preferred shares were issued on June 13, 2005.
- 6This 8-K filing serves as a notification of these material events related to capital issuance and legal opinions.