MCLEAN, Va., May 11 /PRNewswire-FirstCall/ -- Capital One Financial
Corporation (NYSE: COF) today announced the pricing of a public offering of 56
million shares of its common stock at a public offering price per share of
$27.75. Capital One will grant the underwriters a 30-day option to purchase up
to 8.4 million additional shares of common stock.
Net proceeds of the offering are expected to be used for general corporate
purposes and, subject to regulatory approval, for the repurchase of the
Preferred Stock and Warrants issued and sold, in each case, to the U.S.
Treasury as part of the Troubled Asset Relief Program Capital Purchase
Program. The offering is being conducted as a public offering registered
under the Securities Act of 1933. General corporate purposes may include
repayment of debt, acquisitions, additions to working capital, capital
expenditures and investments in the Company's subsidiaries. Net proceeds may
be temporarily invested prior to deployment for their intended purposes. The
sole book-runner and manager for the offering was Barclays Capital Inc.
The public offering is being made by means of a prospectus. Capital One
has filed a registration statement (including prospectus) with the Securities
and Exchange Commission for the offering to which this communication relates.
You may get these documents for free by visiting EDGAR on the SEC Web site at
www.sec.gov. Alternatively, the issuer, underwriter or any dealer
participating in the offering will arrange to send you the relevant prospectus
if you request it by contacting Barclays Capital Inc., c/o Broadridge
Integrated Distribution Services, 1155 Long Island Avenue, Edgewood, New York,
11717; barclaysprospectus@broadridge.com (phone 888-603-5847). A copy of the
preliminary prospectus may also be obtained at no charge at the Securities and
Exchange Commission's website, at www.sec.gov
This press release shall not constitute an offer to sell or a solicitation
of an offer to buy any securities, nor shall there be any sale of these
securities in any state or jurisdiction in which such an offer, solicitation
or sale would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
This press release contains statements that do not directly or exclusively
relate to historical facts. These types of statements are forward-looking
statements within the meaning of the Private Securities Litigation Reform Act
of 1995. All forward-looking statements rely on assumptions and are subject to
risks, uncertainties and other factors that could cause the Company's actual
results to differ materially from expectations. You should read and interpret
any forward-looking statements together with the risk factors contained under
the caption "Risk Factors" in the prospectus supplement for the offering to
which this release relates and the Company's other SEC filings. Any
forward-looking statement speaks only as of the date on which that statement
is made. The Company will not update any forward-looking statement to reflect
events or circumstances that occur after the date on which the statement is
made.
About Capital One
Capital One Financial Corporation (www.capitalone.com) is a financial
holding company whose subsidiaries, which include Capital One N.A., Capital
One Bank (USA), N.A., and Chevy Chase Bank, F.S.B., collectively had $121
billion in deposits and $150 billion in managed loans outstanding as of March
31, 2009. Headquartered in McLean, Virginia, Capital One offers a broad
spectrum of financial products and services to consumers, small businesses and
commercial clients. Capital One, N.A. and Chevy Chase Bank, F.S.B. have
approximately 1,000 branch locations primarily in New York, New Jersey, Texas,
Louisiana, Maryland, Virginia, and the District of Columbia. A Fortune 500
company, Capital One trades on the New York Stock Exchange under the symbol
"COF" and is included in the S&P 100 index.
SOURCE Capital One Financial Corporation
CONTACT: Investor Relations, Jeff Norris or Danielle Dietz,
+1-703-720-2455, or Media Relations, Tatiana Stead, +1-703-720-2352, or Julie
Rakes, +1-804-284-5800, all of Capital One Financial Corporation
Web Site: http://www.capitalone.com
(COF)
