Ford Motor Company announced March 31 that the United Auto Workers Retiree Medical Benefits Trust (“UAW VEBA”) has priced a secondary public offering of 362,391,305 warrants to purchase Ford common stock. The offering was priced at $5.00 per warrant through a modified Dutch auction that took place on March 30. The aggregate net proceeds to the UAW VEBA from the offering are expected to be approximately $1.78 billion.
The warrants have been listed for trading on The New York Stock Exchange under the symbol “F WS” and commenced trading at 9:30 a.m. on March 31.
The UAW VEBA will receive all of the net proceeds from the offering. Ford will not receive any proceeds from the offering. The warrants to be sold by the UAW VEBA represent all of the warrants that it holds.
The closing is expected to occur on or about April 6, 2010, subject to customary closing conditions. Deutsche Bank Securities Inc. is the sole book-running manager for the offering. Goldman, Sachs & Company, Barclays Capital Inc., BofA Merrill Lynch, Citi, J.P. Morgan Securities Inc., Morgan Stanley & Company Incorporated and RBS Securities Inc. are included in the underwriting syndicate for the offering.
The offering is being made by means of a prospectus and prospectus supplement only. Copies of the prospectus and the prospectus supplement may be obtained from Deutsche Bank Securities Inc., Prospectus Department, Harborside Financial Center, 100 Plaza One, Jersey City, N.J. 07311-3988, telephone: 800-503-4611 or by e-mailing prospectusrequest@list.db.com.
Ford has filed a registration statement – including a prospectus – with the Securities and Exchange Commission (“SEC”) for the offering to which this communication relates. Before investing, investors should read the prospectus in that registration statement and other documents Ford has filed with the SEC for more complete information about Ford and this offering.
Investors may obtain these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send the prospectus and the prospectus supplement upon request by contacting Deutsche Bank Securities Inc., Prospectus Department.