Lincoln Financial Group on Tuesday announced that it has priced a public offering of common stock in a bid to raise $600 million in capital.

The financial group will offer 40 million at $15.00 per share. The underwriters will have a 30-day option to purchase up to an additional 6 million shares of common stock. The offering is expected to close on June 22, 2009.

The Philadelphia based company intends to use the net proceeds from the offering, which are expected to be approximately $566 million for general corporate purposes, including, but not limited to, contributions of capital to our insurance and other subsidiaries.

The offering has been coordinated by J.P. Morgan Securities Inc. and Merrill Lynch & Co.

Goldman, Sachs & Co. and Morgan Stanley & Co. Incorporated served as joint book-running managers for the offering.

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