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Flagstar Bancorp under pressure on ~$182M secondary stock offering

  • Flagstar Bancorp (FBC -7.5%) announces the pricing of 6M shares being offered by MP Thrift Investments at $30.30/share; Underwriters' over-allotment option is 900K shares.
  • The offering will reduce MP Thrift's stake in FBC by about 10.5 percentage points, to ~25.6% of FBC's common stock.
  • The company will not receive any of the proceeds from the sale of these shares.
  • Offer is expected to close on August 12.
  • Previously: Flagstar EPS beats by $0.61 (July 28)

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New York Community Bancorp, Inc.