As part of the Treasury’s effort to inject capital into the credit markets, the Treasury initiated the Capital Purchase Program (“CPP”) in October.  Access to the CPP was expanded on November 17, 2008 to include certain privately-held companies.  Under the CPP, the Treasury purchases preferred shares and warrants from banks and other savings institutions to recapitalize their financial position.

Click here to read a Client Advisory by Edwards Angell Palmer & Dodge about the term sheet and the deadlines for application.