DALLAS, Nov. 30, 2018 /PRNewswire/ -- Comerica
Incorporated (the "Company") (NYSE: CMA) today reminded holders of
warrants issued by Sterling Bancshares, Inc. on December 12, 2008 to purchase common stock (OTC
Pink: CMP.WW; CUSIP number 200340 123) (the "Warrants") that the
Warrants will expire on Wednesday, December
12, 2018. Warrants will be exercisable until the Depository
Trust & Clearing Corporation's ("DTCC") cutoff time for
exercises on that date. FINRA will suspend trading in the Warrants
after the close of trading on December 7,
2018 so that all trades can be settled by December 12, 2018.
The Warrants were originally issued to the U.S. Department of
the Treasury in December 2008 and
were sold to the public in an auction process in June 2010. As a result of the acquisition of
Sterling Bancshares, Inc. by the Company in July 2011, the Warrants became exercisable for
shares of the Company. As of November 29,
2018, there were approximately 97 thousand Warrants
outstanding for an equivalent of approximately 23 thousand shares
of the Company's common stock. Each Warrant entitles the holder to
purchase 0.24 of a share of the Company's common stock at an
exercise price of $7.123 per share
(or the equivalent of $29.679 per
share of the Company's common stock). Further information on the
Warrants is available in the Investor Relations section of the
Company's website (www.comerica.com).
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
December 12, 2018 to confirm the
procedures for exercising Warrants.
Any Warrant not exercised prior to the cutoff time on
December 12 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 (NYSE: CMA
WS; CUSIP No. 200340 115) expired on November 14, 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