The U.S. Treasury said on Dec. 4 that its auction of 12,657,960 warrants over shares of Capital One Financial had priced at $11.75 each, for a total of almost $150 million.

The Treasury received warrants over more than $530 million-worth of Capital One stock when it invested $3.6 billion in the bank under the Troubled Asset Relief Program just over a year ago.

Capital One shares closed at $36.92 on Dec. 3.

Linus Wilson, a finance professor at the University of Louisiana, had estimated the Capital One warrants to be worth $236 million to $393 million.

Pluris Valuation Advisors pegged them at $17-$19 each, or a total of at least $215 million.

• Treasury statement 

23 Nov 2009 -

Can’t win

6 Aug 2009 -

Not so flush

9 Jul 2009 -

Warranted price

19 May 2009 -

A doubtful warrant

6 Feb 2009 -

Tarpshire Hathaway