PITTSBURGH, May 15, 2020 /PRNewswire/ -- The PNC
Financial Services Group, Inc. (NYSE:PNC) today announced the
closing of its sale of 31.6 million shares of BlackRock, Inc.
(NYSE:BLK) common and preferred stock through a registered offering
at a price of $420 per share. This
includes the previously announced option that has been fully
exercised by underwriters. In addition, PNC announced the
completion of BlackRock's repurchase of 2.65 million shares from
PNC at a price of $414.96 per
share.
As a result, PNC has sold its entire holding in BlackRock,
excluding 500,000 BlackRock shares that PNC intends to contribute
to the PNC Foundation by the end of the second quarter of 2020.
The PNC Financial Services Group, Inc. is one of the largest
diversified financial services institutions in the United States, organized around its
customers and communities for strong relationships and local
delivery of retail and business banking including a full range of
lending products; specialized services for corporations and
government entities, including corporate banking, real estate
finance and asset-based lending; wealth management and asset
management. For information about PNC, visit www.pnc.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy the securities described herein,
nor shall there be any offer or sale of these securities in any
state or jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
BlackRock has filed a registration statement (including a
prospectus) with the Securities and Exchange Commission ("SEC") for
the offering to which this communication relates. Before you
invest, you should read the prospectus in that registration
statement and other documents BlackRock has filed with the SEC,
including the prospectus supplement dated May 12, 2020, for
more complete information about BlackRock and this offering.
You may get these documents for free by visiting EDGAR on the SEC
website at www.sec.gov. Alternatively, any underwriter
or any dealer participating in the offering will arrange to send
you the prospectus and the prospectus supplement if you request
them by contacting (i) Morgan Stanley & Co. LLC, Attention:
Prospectus Department, 180 Varick Street, 2nd Floor, New York,
NY 10014; (ii) Citigroup Global Markets Inc., c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood,
NY 11717 or by telephone at 1-800-831-9146; or (iii) Evercore
Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd
Street, New York, NY 10055 or by telephone at (888)
474-0200 or by email at ecm.prospectus@evercore.com.
CONTACTS:
MEDIA:
Marcey
Zwiebel
(412)
762-4550
media.relations@pnc.com
INVESTORS:
Bryan
Gill
(412) 768-4143
investor.relations@pnc.com
View original content to download
multimedia:http://www.prnewswire.com/news-releases/pnc-announces-closing-of-sale-of-blackrock-stock-301060144.html
SOURCE The PNC Financial Services Group, Inc.