New York Community Bancorp (NYCB) just unveiled an update.
New York Community Bancorp, Inc. (NYCB) has successfully negotiated a major investment deal with several prominent funds, including Liberty 77 Capital L.P., Hudson Bay Capital Management, LP, and Reverence Capital Partners L.P., as well as other investors, collectively infusing approximately $1.05 billion into the company. The transaction, which closed on March 11, 2024, involved issuing common and preferred stocks, along with net-settled warrants. In anticipation of future growth, NYCB also plans to propose amendments to its corporate structure and increase its authorized shares to attract a wider investor base. The deal brought significant changes to the company’s board composition, including the appointment of new directors and the resignation of several existing ones, effectively reshaping NYCB’s governance and strategic direction.
Learn more about NYCB stock on TipRanks’ Stock Analysis page.
