Posted August 3rd, 2021 for Wells Fargo SAN FRANCISCO ( ) Wells Fargo & Company (NYSE: WFC) today announced that on Sept. 15, 2021, it will redeem all 26,000 shares (the “Redeemed Series O Preferred Shares”) of its Non-Cumulative Perpetual Class A Preferred Stock, Series O (the “Series O Preferred Stock”). The redemption of the Redeemed Series O Preferred Shares will trigger the redemption of the 26,000,000 shares of the related depositary shares (the “Redeemed Series O Depositary Shares”), each representing a 1/1,000 interest in a share of Series O Preferred Stock (the “Series O Depositary Shares”) (NYSE: WFC.PRO). The redemption price will be equal to $25,000.00 per Redeemed Series O Preferred Share and $25.00 per Redeemed Series O Depositary Share. After giving effect to the redemption, no shares of the Series O Preferred Stock or the Series O Depositary Shares will remain outstanding.
Empire Services, Inc.
Denver-based MassRoots announced Wednesday it has executed a letter of intent with Empire to purchase all of its equity for $14 million in a primarily stock-based transaction.
What It Means For MassRoots: MassRoots CEO Isaac Dietrich called the acquisition a new beginning and possibly transformative, enabling the company to generate significant revenue and positive cash flows from operations.
Moreover, the transaction includes Empire s 10 operating metal recycling facilities in Virginia and North Carolina. Empire, which was established in 2002, expects to continue expanding its footprint in the upcoming quarters.
Empire s revenue exceeded $20 million in the last two consecutive years. The company also reported net positive cash flows from operations in both the 2019 and 2020 fiscal years.