State Street Amends Preferred Stock Rights and Announces Public Offering

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The company also entered into an underwriting agreement for the public offering of 500,000 depositary shares, each representing a 1/100th ownership interest in a share of the preferred stock. The offering is expected to generate approximately $495.7 million in net proceeds for State Street, after deducting underwriting discounts and offering expenses.

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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.