Bank of America sell $19.29B in Securities. Chartpoppers.com releases timely Investment overview on Bank Of America

(CHARTPOPPERS.COM, December 04, 2009 ) Point Roberts, WA - Chartpoppers.com announces an investment report featuring company Bank of America Corp. (NYSE: BAC)

The Consolidated Investment Analysis on Bank of America Corp. (NYSE: BAC)will be in particular interest to other competing companys within in its sector, such as Citigroup Inc. (NYSE:C), JP Morgan Chase. (NYSE: JPM) and HSBC Holdings. (NYSE: HBC)

Bank of America Corporation (Bank of America) is a bank holding company and a financial holding company. Through its banking subsidiaries and various non-banking subsidiaries throughout the United States and in selected international markets, it provides a diversified range of banking and non-banking financial services and products through three business segments: Global Consumer and Small Business Banking, Global Corporate and Investment Banking and Global Wealth and Investment Management. Bank of America operates in 50 states, the District of Columbia and more than 40 foreign countries.

Recent News on Bank of America Corp. (NYSE: BAC)

Bank of America Corp. said Thursday it raised $19.29 billion in a complex share sale to help pay back $45 billion in government bailout funds.
Repaying the money could help the ailing bank attract a new chief executive to replace Ken Lewis by removing the bailout stigma and lifting government pay restrictions. Lewis is set to retire Dec. 31, and the company has not yet named a replacement.
Still, the share sale could dilute the value of the bank's stock by putting 15 percent more shares on the market, hurting the shareholders who will vote on whether to approve the transaction.
The bank sold $19.29 billion in common equivalent securities at $15 each -- a 4.8 percent discount to Thursday's closing price for Bank of America's stock. The securities can be converted to 1.29 billion common shares, as long as current shareholders approve the deal. The bank had 8.65 billion shares outstanding as of mid-October.
If shareholders do not approve the transaction, Bank of America has a contingency plan that could let it issue another 200 million shares of common stock without getting approval from shareholders.
The bank said it expects to hold a special shareholder vote within 105 days.
Bank of America, based in Charlotte, N.C., plans to pay back the bailout money with cash on hand and money raised through the share sale. The company also said it plans to raise an additional $4 billion from the sale of certain business units in the coming months.

To view the Consolidated Investment Analysis on Bank of America Corp. (NYSE: BAC)Please visit the stock pulse page at www.chartpoppers.com/stock%20pulse/

In the report chartpoppers.com covers a recent Financial Summary, Analyst Consensus, Technical Analysis, Comparative Analysis and Insider Trading Activity.

The full report is available at www.chartpoppers.com

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Chartpoppers.com Disclosure
DO NOT BASE ANY INVESTMENT DECISION UPON ANY MATERIALS FOUND ON THIS REPORT. We are not registered as a securities broker-dealer or an investment adviser either with the U.S. Securities and Exchange Commission (the "SEC") or with any state securities regulatory authority. We are neither licensed nor qualified to provide investment advice. ChartPoppers.com nor its affiliates have a beneficial interest in the mentioned company; nor have they received compensation of any kind for any of the companies listed in this communication. The information contained in our report is not an offer to buy or sell securities. We distribute opinions, comments and information free of charge exclusively to individuals who wish to receive them.

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Paul Marek
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