8-KOther EventsExhibits & Filings

STATE STREET CORP 8-K Report, Corporate Update (Jul 31, 2018)

Filed July 31, 2018For Securities:STTSTT-PG

Summary

State Street Corporation (STT) announced on July 31, 2018, the completion of a public offering and sale of 13,244,271 shares of its common stock. The offering, made under a Form S-3 registration statement, generated approximately $1.15 billion in net proceeds for the company after deducting expenses and underwriting discounts. The shares were sold at a public offering price of $86.93 per share, with the underwriter purchasing them from State Street at $86.83 per share. This capital raise is a significant event for State Street, providing additional financial resources that can be used for various corporate purposes, such as strengthening its balance sheet, funding strategic initiatives, or enhancing its competitive position in the financial services industry. Investors should note the substantial amount of capital raised and consider how this influx of funds may impact the company's future growth and financial flexibility.

Key Highlights

  • 1State Street Corporation completed a public offering and sale of 13,244,271 shares of common stock on July 31, 2018.
  • 2The offering generated approximately $1.15 billion in net proceeds for the company.
  • 3The shares were sold at a public offering price of $86.93 per share.
  • 4The offering was conducted under a registration statement on Form S-3.
  • 5An underwriting agreement with Morgan Stanley & Co. LLC governed the transaction.
  • 6Legal opinions regarding the issuance of shares were provided by Wilmer Cutler Pickering Hale and Dorr LLP.
  • 7The net proceeds are available for general corporate purposes.

Frequently Asked Questions

The primary purpose of this 8-K filing was to report on the completion of State Street Corporation's public offering and sale of its common stock on July 31, 2018, and to provide details regarding the transaction.

State Street Corporation raised approximately $1.15 billion in net proceeds from the sale of its common stock after accounting for estimated expenses and underwriting discounts.

The shares were sold at a public offering price of $86.93 per share. The underwriter purchased the shares from State Street at $86.83 per share.

The filing indicates that the net proceeds will be used for general corporate purposes. Specific allocation details would typically be found in other company disclosures or investor communications.