Key Developments For E TRADE Financial Corporation
E TRADE Financial Corporation (ETFC.O) (Nasdaq)
Yahoo! Selects E*TRADE FINANCIAL Corp.'s E*TRADE Corporate Services For Equity Compensation Needs
E*TRADE FINANCIAL Corp. announced that Yahoo! has selected E*TRADE Corporate Services to administer its employee equity compensation programs. Yahoo! has chosen E*TRADE Corporate Services as their end-to-end provider of stock plan administration services, including E*TRADE Corporate Services` Equity Edge product and the participant services and investing tools from E*TRADE Securities.
E*TRADE FINANCIAL Corp. Shares Rallies After Reports Spur Takeover Talk With Ameritrade Holding Corporation-NYT
The Newyork Times reported that E*TRADE FINANCIAL Corp. shares surged after media reports fed speculation that Ameritrade Holding Corporation could make a bid for E-Trade Financial.
E*TRADE FINANCIAL Corp. Announces Completion of Common Stock Offering
E*TRADE FINANCIAL Corp. announced that it has completed its previously announced At The Market (ATM) common stock offering. Pursuant to this offering, the Company sold 80,226,756 shares of common stock for gross proceeds of $150 million, resulting in net proceeds of approximately $147 million after deducting commissions and offering expenses. Sandler O`Neill + Partners, L.P. acted as sole distribution agent for the ATM program.
E*TRADE FINANCIAL Corp. Terminates Stockholder Rights Plan and Files For At The Market Program To Issue Common Stock
E*TRADE FINANCIAL Corp. announced that its Board of Directors has terminated the Company's Stockholder Rights Plan in accordance with the stockholder advisory vote at the Special Stockholder Meeting in August. In addition, the Company's Board of Directors has authorized the commencement of an At The Market (ATM) program to issue common stock for which the Company has entered into an equity distribution agreement with Sandler O'Neill + Partners, L.P. Under the terms of the agreement, the Company may from time to time offer and sell up to $150,000,000 of common stock through the ATM program. The Company intends to use the proceeds from the sale of common stock to enhance liquidity for the parent company as well as for working capital and general corporate purposes. Under the terms of the distribution agreement, the Company also may sell shares of its common stock to Sandler O'Neill, as principal for its own account, at a price agreed upon at the time of sale. If the Company agrees to sell shares to Sandler O'Neill, as principal, it will enter into a separate terms agreement with Sandler O'Neill, and will describe such agreement in a separate prospectus supplement or pricing supplement.
Donald H. Layton to Complete Tenure as Chairman and CEO of E*TRADE FINANCIAL Corp.
E*TRADE FINANCIAL Corp. announced that Donald H. Layton will step down as Chairman and Chief Executive Officer (CEO) of the Company at the end of 2009 when his contract expires.
