and pilot-not-at-controls (PNAC) disengaged baralt hold as requested.
As an active user of our Affordable Housing Program, his experience and insight will be invaluable to the Bank, its Board of Directors, and his fellow AHAC
The underwriters have a 30-day option, exercisable until April 8, 2010, to purchase up to an additional 725,969 shares, the remaining TRH shares held by AHAC
Wells Fargo Securities and BofA Merrill Lynch were underwriters for the Offering and have the option (the "Option"), until April 8, 2010, to purchase up to an additional 725,969 shares of TRH common stock from AHAC
TRH also announced that an underwritten public offering (the "Offering") of 8,466,693 shares of its common stock owned by AHAC
, a subsidiary of American International Group, Inc.
Wells Fargo Securities and BofA Merrill Lynch, the underwriters of the offering, have entered into an agreement under which TRH will purchase two million of the shares owned by AHAC
as part of the offering, at a price per share based on the offering price of the public offering.
The shares are to be repurchased at the initial price to the public in the offering, as adjusted pursuant to an agreement among TRH, AHAC
and the underwriters in the offering.
currently intends to commence such an offering on or prior to March 9, 2010, concurrent with TRH's addition to the S&P Midcap 400 Index.
The Bank's AHAC
is a 15-member group that provides guidance on affordable housing and economic development issues and helps shape the Bank's community investment grant programs and credit products.
This transaction enabled AHAC
, a subsidiary of AIU Holdings, Inc.
now owns 9,192,662 common shares of the Company, representing approximately 13.
At the close of the secondary offering, which is scheduled for June 10, 2009, AHAC
will own 9,192,662 common shares of Transatlantic Holdings, Inc.