Finance History | 11 Wall Street — Two Hundred Forty Thousand Shares at Twenty-Four Seventy-Five
· 1942-6
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Finance History | 11 Wall Street — Two Hundred Forty Thousand Shares at Twenty-Four Seventy-Five
kevin
People treat Pfizer as a New York drug house that always printed PFE after a finished New York book.
The June 1942 issuer was Chas. Pfizer and Co., Inc., the New Jersey corporation that succeeded the 1849 Brooklyn partnership of Charles Pfizer and Charles F. Erhart.
The New York Times of 11 June 1942 recorded the SEC filing: 240,000 common shares, the first public financing in the firm's history, underwritten by F. Eberstadt and Co.
Pfizer's own history page records that those 240,000 shares were offered to the public on 22 June 1942.
Period accounts put the offering price at 24.75 dollars a share and the cash raised near 5.9 million dollars in 1942 currency.
The present tape is still PFE on the New York Stock Exchange.
The mechanism is a wartime industrial listing. A privately held fine-chemicals book sold stock while it was scaling deep-tank penicillin for the Allied armies.
The pin is the public Broad Street facade of the Exchange, the present street marker for the tape that has printed PFE.
Interior trading is not visitable from the sidewalk.
Photo: Arild Vagen, August 2017, CC BY-SA 4.0, via Wikimedia Commons. New York Stock Exchange from Broad Street.
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