After the close of trading on Friday, General Electric Co. (NYSE: GE) filed an open shelf registration with the SEC which would allow it from time to time to sell securities. No size or dollar amount was given in this open registration, and no underwriters were named.
This shelf would allow the company to sell senior debt securities,subordinated debt securities, common stock, warrants, delayed deliverycontracts and guarantees.
The use of proceeds from the securities sale was listed as the typical "for general corporate purposes."
The reports and rumors of capital raises and additional financingpackages have been as wide as you could imagine. Latelast week the company said it was not raising additional capital fromAsian wealth funds, although in today’s financial market calling asituation "fluid and subject to change" is something that almost has tobe said about any given hour of the day.
GE’s stock closed at $14.03 Friday and 52-week trading range is now $12.58 to $38.67.
- GE did score a Warren Buffett investment last month.
- We also outlined some of its dividend safety and worries.
Jon C. Ogg
November 24, 2008