Click here to see more …Elliot Turner More Articles 8/8.877 General Motors applied Wednesday for an initial $100 million public offer. It represents an important milestone in the effort by the car-maker to reemerge to prominence after an extraordinarily tumultuous time in the long history of the company. Though GM has filed to raise $100 million in the deal that is not exactly the amount the company expects to raise and hopes. Upon filing, many GM planned to raise $16 billion in an IPO to reduce the US Treasury’s ownership interest from 61% to less than 50% somewhere. It would cost US Treasury $70 billion to sell its full interest in the company. In response to mypost yesterday on the forthcoming “soft” IPO reader Nickprc noted that the amount of $70 billion “would be more than Ford’s market value of approximately $44 billion but less than Toyota’s total market value of approximately $113 billion.” Along with a common stock offering GM will look to raise money through preferred stock sales. While the common stock offering is an effort to divest some of the US Treasury and United Autoworkers Union’s ownership interests (a 17.5 percent owner) the preferred stock offering would help General Motors raise money for the rejuvenated firm’s own balance sheet. Some of GM’s fellow bailout beneficiaries from the financial crisis days at JP Morgan (NYSE: JPM) Bank of America (NYSE: BAC) Citibank (NYSE: C) and Morgan Stanley (NYSE: MS) are the sole underwriters on the deal. At some point nearer to the actual offer date, the IPO will be priced which many anticipate to happen at some point between November and December.