State Street (STT) has released an update.
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On January 31, 2024, State Street Corporation sold 1,500,000 depositary shares, each representing a fractional ownership in its Series I Preferred Stock, in a public offering, expecting to receive about $1.481 billion in net proceeds. The offering was based on an underwriting agreement with major financial institutions and involved filing necessary documentation with the SEC and the Commonwealth of Massachusetts. Additionally, a deposit agreement was made with Equiniti Trust Company, LLC, as part of the issuance process, and legal opinions were provided by Wilmer Cutler Pickering Hale and Dorr LLP confirming the legality of the shares issued.
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For a comprehensive understanding of the announcement, you can read the full document here.