WOW: Department of Treasury using @secondmarket to sell Citigroup shares

ummmmm..... so much for the Government having a problem with the secondary market for stocks!

go SecondMarket! 

best jason

This morning, the U.S. Department of the Treasury announced it will auction its warrant positions in Citigroup, Inc. SecondMarket is assisting the sole book-running manager, Deutsche Bank Securities, Inc., in its capacity as the auction agent. To participate in the auction of Citigroup, Inc. warrants, please complete the following steps by 4:15 PM (EST) tomorrow, Tuesday, January 25, 2011: Review the preliminary prospectus supplements for Series A Warrantsand Series B Warrants. If you have not yet opened and funded an account with SecondMarket, please contact Owen Dolan today at odolan@SecondMarket.com or 212.668.6677. Once you have opened and funded an account, please complete the Bid Submission Agreement and Bid Sheet for Series A Warrants or forSeries B Warrants. Send your completed Bid Submission Agreement and Bid Sheet to SecondMarket at tarp@SecondMarket.com by 4:15 PM (EST) on Tuesday, January 25, 2011. Series A Warrant Details: Issuer:  Citigroup, Inc. Number of Warrants:  255,033,142 Exercise Price:  $10.61 Expiration Date:   01/04/2019 Exercise Method:  Cashless only Registration Status:  Registered Other:  Dividend Protection (over $0.01 per quarter), standard adjustments of stock splits, subdivisions and reclassifications Minimum Bid Price:  $0.60 Bid Increment:  $0.01 Series B Warrant Details: Issuer:  Citigroup, Inc. Number of Warrants:  210,084,034 Exercise Price:  $17.85 Expiration Date:  10/28/2018 Exercise Method:  Cashless only Registration Status:  Registered Other:  Dividend Protection (over $0.16 per quarter), standard adjustments of stock splits, subdivisions and reclassifications Minimum Bid Price:  $0.15 Bid Increment:  $0.01 Regards, Restricted Securities Market Team  www.SecondMarket.com

 

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