MW: Treasury to sell Boston Private Financial warrants
By Greg Robb
WASHINGTON (MarketWatch) -- The Treasury Department said Monday that it plans to auction 2.89 million warrants in Boston Private Financial Holdings Inc. (BPFH 6.72, +0.34, +5.33%) on Tuesday. The warrants will be sold in a public offering using a Dutch auction method that allows investors to bid above a minimum price. The minimum bid price for the Boston Private Financial warrants is $1.40 per warrant. Treasury received the warrants during the financial crisis when the government stepped in to prevent a collapse of the banking system. The warrants give the holder the right to purchase one share of Boston Private Financial stock for $8.00. The warrants expire in November 2018.
