DALLAS, Nov. 2, 2018 /PRNewswire/ -- Comerica Incorporated (the "Company") (NYSE: CMA) today reminded holders of warrants issued on November 14, 2008 to purchase common stock (NYSE: CMA WS; CUSIP No. 200340 115) (the "Warrants") that the Warrants will expire on Wednesday, November 14, 2018. Warrants will be exercisable until the Depository Trust & Clearing Corporation's ("DTCC") cutoff time for exercises on that date. The New York Stock Exchange has notified the Company that it will suspend trading in the Warrants after the close of trading on November 9, 2018 so that all trades can be settled by November 14, 2018.
The Warrants were originally issued to the U.S. Department of the Treasury in November 2008 and were sold to the public in an auction process in May 2010. As of November 1, 2018, there were approximately 636 thousand Warrants outstanding. The Warrants have an exercise price of $29.40 per share.
Holders of Warrants who wish to exercise their Warrants should contact the broker or custodian through which they hold their Warrants for instructions. Brokers and custodians are encouraged to contact the warrant agent, Equiniti Trust Company, or DTCC well in advance of the expiration date and DTCC's cutoff time on November 14, 2018 to confirm the procedures for exercising Warrants.
Any Warrant not exercised prior to the cutoff time on November 14 will expire and be canceled, and the holder will not receive any shares of the Company's common stock for its unexercised Warrants.
The Company's other outstanding series of warrants (OTC Pink: CMP.WW; CUSIP number 200340 123), which were originally issued by Sterling Bancshares, Inc. on December 12, 2008, will expire on December 12, 2018.
Comerica Incorporated (NYSE: CMA) is a financial services company headquartered in Dallas, Texas, and strategically aligned by three business segments: The Business Bank, The Retail Bank, and Wealth Management. Comerica focuses on relationships, and helping people and businesses be successful. In addition to Texas, Comerica Bank locations can be found in Arizona, California, Florida and Michigan, with select businesses operating in several other states, as well as in Canada and Mexico.
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SOURCE Comerica Incorporated