The Charles Schwab Corporation Announces Secondary Offering of Its Common Stock Held by an Affiliate of The Toronto-Dominion Bank; Plans $1.5 Billion Stock Repurchase
TD currently holds 184.7 million shares of the Company’s common stock, representing a
Charles Schwab also announced today that it entered into a share repurchase agreement with TD, conditioned on the secondary offering, pursuant to which the Company agreed to repurchase
Following the secondary offering and the Repurchase, TD will have disposed of all of its shares. Charles Schwab will not receive any of the proceeds from the sale of shares of its common stock.
The secondary offering will be led by TD Securities and Goldman Sachs & Co. LLC.
Charles Schwab has filed a registration statement (including a prospectus) and a preliminary prospectus supplement with the Securities and Exchange Commission (the “SEC”) for the secondary offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents Charles Schwab has filed with the SEC, including the preliminary prospectus supplement dated February 10, 2025, for more complete information about Charles Schwab and this secondary offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, any underwriter or any dealer participating in the offering will arrange to send you the prospectus and the preliminary prospectus supplement if you request them by contacting: (i) TD Securities (
This announcement shall not constitute an offer to sell or the solicitation of any offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Forward-Looking Statements
This press release contains forward-looking statements that involve substantial risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed or implied by such statements. These forward-looking statements include statements regarding the offering and the Repurchase, the Company’s plans, objectives, expectations and intentions and the financial condition, results of operations and business of the Company. These forward-looking statements are subject to risks and uncertainties, including, among other things, risks related to the ability of the Company to consummate the offering and the Repurchase and the risks described in the Company’s most recent reports on Form 10-K and Form 10-Q, which have been filed with the SEC and are available on the Company’s website (www.aboutschwab.com/financial-reports) and on the SEC’s website (www.sec.gov). The Company makes no commitment to update any forward-looking statements.
About Charles Schwab
The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services, with 36.5 million active brokerage accounts, 5.4 million workplace plan participant accounts, 2.0 million banking accounts, and
View source version on businesswire.com: https://www.businesswire.com/news/home/20250209475232/en/
MEDIA:
Mayura Hooper
Charles Schwab
Phone: 415-667-1525
public.relations@schwab.com
INVESTORS/ANALYSTS:
Jeff Edwards
Charles Schwab
Phone: 817-854-6177
investor.relations@schwab.com
Source: The Charles Schwab Corporation