On September 21st, the Treasury Department announced that it has commenced a secondary public offering of 6,008,902 warrants to purchase the common stock of SunTrust Banks, Inc. (the "A" Warrants) and a secondary public offering of 11,891,280 warrants to purchase the common stock of SunTrust Banks, Inc. (the "B" Warrants). The Treasury Department stated that the proceeds of this sale will provide an additional return to the American taxpayer from Treasury's investment in SunTrust beyond the dividend payments it received on the related preferred stock. The offerings are expected to price through a modified Dutch auction. Deutsche Bank Securities Inc. is the sole book-running manager and Lebenthal & Co., LLC is the co-manager for the offerings. Treasury Department News Release.