PrivateBancorp repurchases TARP warrant from Department of Treasury

theflyonthewall.com

PrivateBancorp announced that it has repurchased in full the warrant that was issued to the U.S. Department of Treasury in connection with the company's participation in the Trouble Asset Relief Program Capital Purchase Program. The warrant, relating to the right to purchase 645,013 shares of common stock of the company at $28.35 per share, was repurchased at the mutually agreed upon price of $1.225M. Following the settlement of the TARP warrant today, the Treasury has no remaining equity stake in PrivateBancorp.

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