Canopy Growth stock tumbles after announcing $200 million share sale plan
Wells Fargo & Company (NYSE:WFC) announced Thursday that it has established a Medium-Term Note Program, Series Y, and a Subordinated Medium-Term Note Program, Series Z. The company filed the distribution agreement related to these programs with the Securities and Exchange Commission.
According to the press release statement, the filing includes the distribution agreement dated Thursday between Wells Fargo & Company and the agent named in the agreement. The company also filed the cover page of the current report in Inline XBRL format as an exhibit.
Wells Fargo & Company is incorporated in Delaware and headquartered in San Francisco, California. The company’s securities, including its common stock and various series of preferred stock, are listed on the New York Stock Exchange under the symbols NYSE:WFC, NYSE:WFC.PRL, NYSE:WFC.PRY, NYSE:WFC.PRZ, NYSE:WFC.PRA, NYSE:WFC.PRC, and NYSE:WFC.PRD. The guarantee of medium-term notes, Series A, due October 30, 2028, of Wells Fargo Finance LLC is also listed under NYSE:WFC/28A.
The company indicated in the filing that it is not an emerging growth company as defined by the Securities Act and the Exchange Act.
This information is based on a press release statement included in the company’s Form 8-K filing with the SEC.
In other recent news, Wells Fargo & Company announced plans to appoint CEO Charlie Scharf as chairman of the board, alongside granting him a $30 million equity award and over 1 million stock options. This move is part of Wells Fargo’s strategy to retain Scharf’s leadership, which the company credits with driving a significant transformation. Additionally, Wells Fargo is expanding its partnership with Google Cloud to enhance its use of AI technology, aiming to improve efficiency across various departments. In another development, Christopher Harvey, head of equity strategy at Wells Fargo Securities LLC, has departed the firm after 12 years.
Furthermore, Wells Fargo is involved in a lawsuit filed by New York Attorney General Letitia James against Early Warning Services, LLC, the operator of Zelle, for allegedly failing to protect users from fraud. This lawsuit claims that the platform’s design lacks critical safety features, leading to over $1 billion in losses. Meanwhile, the U.S. investment grade bond issuance reached a three-month high, with Wells Fargo’s Weekly Issuance Tracker noting a volume of $40.4 billion last week. The bank’s involvement in these recent developments highlights its active role in various sectors of the financial market.
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