Pfizer Offers Shares to the Public
Charles Pfizer and Charles Erhart had established a chemical business in Brooklyn in 1849, and Pfizer remained privately held through much of its early growth. On June 22, 1942, the company offered 240,000 shares of new common stock to the public. The transaction provided a broader ownership base and additional capital as Pfizer expanded its manufacturing and pharmaceutical operations during the Second World War. It was a public offering of new common shares, rather than a founding event: the company had already existed for more than nine decades.
