Fiat Chrysler Automobiles N.V. (FCAU) priced an offering of 87 million common shares, consisting of the common shares currently held by FCA as treasury shares and additional common shares that FCA intends to issue to replenish the share capital canceled in accordance with applicable law following the exercise by Fiat S.p.A. shareholders of cash exit rights under Italian law in connection with the cross-border merger of Fiat into FCA.
The common shares to be sold in the offering will be sold at a public offering price of U.S.$11.00 per common share. The underwriters in such offering have the option to purchase up to an additional 13 million common shares from FCA.
FCA also said late Wednesday night it priced an offering of U.S.$2,500,000,000 in aggregate notional amount of mandatory convertible securities due 2016. The underwriters in such offering have the option to purchase up to an additional U.S.$375,000,000 in aggregate notional amount of mandatory convertible securities from FCA. The mandatory convertible securities will be issued at 100% of the notional amount and will be mandatorily converted into FCA common shares on December 15, 2016 unless earlier converted at the option of the holder or FCA or upon certain specified events in accordance with their terms.