Citigroup Inc. (C, Financial) has made a significant move by filing a Certificate of Designations with the Secretary of State of Delaware, marking the establishment of a new series of preferred stock. The newly introduced 6.750% Fixed Rate Reset Noncumulative Preferred Stock, Series EE, is set to enhance the company's financial structure.
This strategic amendment to Citigroup's Restated Certificate of Incorporation was made effective immediately upon filing on December 2, 2024. The introduction of this preferred stock series is a noteworthy development for investors, as it outlines the designations, preferences, powers, and rights associated with these shares.
The Certificate of Designations, which details these changes, is filed as part of Citigroup's Form 8-K and is incorporated by reference in its entirety. This move reflects Citigroup's ongoing efforts to optimize its capital structure and offer attractive investment opportunities to its stakeholders.
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