Capital One Financial has announced the pricing of a public offering of 14 million shares of its common stock at a gross public offering price per share of $49.

Capital One has granted the underwriters a 30-day overallotment option to purchase up to 2.1 million additional shares of common stock.

Net proceeds from the offering will be used for general corporate purposes. The offering is being conducted as a public offering registered under the Securities Act of 1933. General corporate purposes may include repayment of debt, acquisitions, additions to working capital, capital expenditures and investments in the company’s subsidiaries. Net proceeds may be temporarily invested prior to deployment for their intended purposes.

The joint book-running managers for the offering are Citigroup Global Markets and JP Morgan Securities.