State Street Corporation has issued and sold 500,000 depositary shares in a public offering, raising approximately $495.7 million in net proceeds. The sale was completed on August 12, 2026, pursuant to an underwriting agreement.
Key Details
- Offering Size: The company sold 500,000 depositary shares, representing a total liquidation preference of $500 million ($1,000 per depositary share).
- Net Proceeds: State Street expects to receive approximately $495.7 million after deducting underwriting discounts and estimated offering expenses.
- Security Details: Each depositary share represents a 1/100th interest in a share of State Street's Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series L, which has a $100,000 per share liquidation preference.
- Underwriters: The offering was managed by Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC as representatives for the underwriters.