Detroit, Michigan – General Motors has commenced sales of its shares to the public, with an estimated range of US$26 to $29 for common stock.

The offering will consist of 365 million shares of common stock to be sold by certain of its shareholders. The company will also issue 60 million shares of its Series B mandatory convertible junior preferred stock with a liquidation amount of $50 per share.

The underwriters have the option to purchase up to an additional 54.75 million shares of common stock from the selling stockholders, and an additional nine million shares of Series B preferred stock from the company.

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