U.S. Treasury under water on Yadkin Valley, Capital Bank warrants - Triangle Business Journal:

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As of June 15, the cash-out pricexs on millions of shares of common stock held by the governmengt in warrants from 10 North Carolina banks averaged 32 percent below the targetedpurchasw prices, according to Subsidyscope, a new Washington, watchdog group. Take Elkin-based , ownefr of in Durham, for example. As part of its Jan. 16 agreemengt to participate in the federal Troubled AssetRelier Program, or TARP, Yadkin agreed to give the governmenf warrants for 385,990 shares of commonh stock at a strike price of (A warrant is an optiomn to buy shares in a companty at a fixed price, called the strike As of that day, the warrant s were worth $5.4 million.