E*Trade Offers 23.95M Shares (ETFC)

E*Trade ETFC offers 23.95M shares of common stock by a Citadel affiliate. E*TRADE Financial Corporation ETFC today announced that Citadel Equity Fund Ltd., an affiliate of Citadel LLC, is offering 23,950,000 shares of E*TRADE's common stock in an underwritten offering. The selling stockholder has also granted the underwriter a 30-day option to purchase up to an additional 3,592,500 shares of common stock. Closing of the offering is expected to occur on or about March 1, 2011, subject to customary closing conditions. E*TRADE will not receive any proceeds from the proposed offering. Goldman, Sachs & Co. is the sole underwriter of this offering.