SunTrust Banks, Inc. (NYSE:STI) Files An 8-K Other EventsItem 8.01 Other Events.
On October 30, 2018, SunTrust Banks, Inc. (the “Company”) issued a press release reminding the holders of the Company's outstanding warrants to purchase its common stock that the warrants will soon expire.
All outstanding Series B Warrants to purchase common stock of the Company (the “Series B Warrants”) will expire at 5:00 p.m. EST on Wednesday, November 14, 2018, and will no longer be exercisable after this time.
The NYSE has notified the Company that it will suspend trading in the Series B Warrants after the close of trading on Friday, November 9, 2018 in order to ensure timely settlement of any Series B Warrants that may be purchased and then exercised prior to the expiration of the Series B Warrants on Wednesday, November 14, 2018. Any Series B Warrant not exercised prior to 5:00 p.m. EST on November 14, 2018 will expire and become void, and the holder will not receive any shares of SunTrust’s common stock.
In addition, all outstanding Series A Warrants to purchase common stock of the Company (the “Series A Warrants”) will expire at 5:00 p.m. EST on Monday, December 31, 2018, and will no longer be exercisable after this time.
The NYSE has notified the Company that it will suspend trading in the Series A Warrants after the close of trading on Wednesday, December 26, 2018 in order to ensure timely settlement of any Series A Warrants that may be purchased and then exercised prior to expiration. Any Series A Warrant not exercised prior to 5:00 p.m. EST on December 31, 2018 will expire and become void, and the holder will not receive any shares of SunTrust’s common stock.
A copy of the press release relating to this reminder is included as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
SUNTRUST BANKS INC ExhibitEX-99.1 2 warrantexpirationpressre….To view the full exhibit click here
About SunTrust Banks, Inc. (NYSE:STI)
SunTrust Banks, Inc. is a bank holding company and a financial holding company. Through its principal subsidiary, SunTrust Bank, the Company offers a line of financial services for consumers and businesses, including deposit, credit, mortgage banking, and trust and investment services. The Company’s other subsidiaries provide asset and wealth management, securities brokerage, and capital market services. The Company operates through three segments: Consumer Banking and Private Wealth Management, Wholesale Banking and Mortgage Banking. It also operates a Corporate Other segment, which includes the management of the Company’s investment securities portfolio, long-term debt, end user derivative instruments, short-term liquidity and funding activities, balance sheet risk management, and real estate assets. The Company operates primarily within Florida, Georgia, Maryland, North Carolina, South Carolina, Tennessee, Virginia and the District of Columbia.
