State Street Corp
State Street Announces Issuance of Depositary Shares and Amends Preferred Stock Rights
Summary
On July 17, 2024, State Street Corporation announced the issuance of 850,000 depositary shares through an underwriting agreement with Goldman Sachs & Co. LLC and UBS Securities LLC. The shares, each representing a 1/100th ownership interest in a share of Preferred Stock, are expected to generate approximately $842.2 million in net proceeds. Additionally, State Street amended its articles of organization to fix the rights of its Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series J. A copy of the Articles of Amendment is filed as Exhibit 4.1.
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Exhibits (3)
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About State Street Corp
State Street Corporation is a prominent financial services and bank holding company. It plays a crucial role in the global financial infrastructure by offering services such as investment management, investment research, and investment servicing. Known for its extensive custody services, State Street holds the assets of various institutional investors, ensuring they are safeguarded and efficiently managed. Additionally, it provides comprehensive investment management solutions, encompassing strategy, research, and advisory services to a diverse client base including asset owners and asset managers. The corporation's influence spans across sectors such as mutual funds, retirement plans, insurance, and sovereign wealth funds. Headquartered in Boston, Massachusetts, State Street Corporation has established itself as a pivotal partner in both domestic and international markets, contributing to the stability and efficiency of the financial ecosystem globally. Besides its custodial dominance, the company is also recognized for its technological advancements in asset servicing, supporting clients with innovative tools and data solutions to optimize investment outcomes.
Official SEC Documents
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