Lehman Brothers has priced a $4.0 billion offering of common stock at $28 per share. The firm also announced the pricing of a $2.0 billion public offering of 2.0 million shares of 8.75% series Q noncumulative mandatory convertible preferred stock, which have a liquidation preference of $1,000 per share. Each share will be converted, on a mandatory basis, into 30.2663 to 35.7142 shares of Lehman common stock on July 1, 2011, the company said. Lehman acted as the sole book-running manager and underwriter for the offerings. The company can be found online at http://www.lehman.com.
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