New York Community Bancorp Prices 39M Share Secondary Offering by the FDIC By Investing.com

New York Community Bancorp , Inc. (NYSE:) today announced that the previously announced underwritten public offering of 39,032,006 shares of the Company’s common stock by the Federal Deposit Insurance Corporation, as receiver for Signature Bridge Bank, National Association (the “FDIC Receiver”), as the selling shareholder, was priced. The Company is not selling any shares in, nor will it receive any proceeds from, the offering. The FDIC Receiver will receive all of the net proceeds from the offering. The offering is expected to close on May 19, 2023, subject to customary closing conditions. Upon the completion of the offering, it is expected that the FDIC Receiver will own no shares of the Company.

Prior to the offering, the FDIC Receiver owned 39,032,006 shares of common stock, which it acquired pursuant to an Equity Appreciation Instrument issued to the FDIC Receiver by the Company as part of the consideration for the purchase and assumption of certain assets and liabilities of Signature Bridge Bank, National Association. Pursuant to the terms of Equity Appreciation Instrument, the FDIC Receiver agreed to use all reasonable efforts to sell the shares it owns by no later than June 8, 2023 and the Company agreed to use reasonable efforts to facilitate such a sale.

Barclays is acting as sole bookrunning manager for the offering. The underwriter may offer the shares from time to time to purchasers directly or through agents, or through brokers in brokerage transactions on the New York Stock Exchange, or to dealers in negotiated transactions or in a combination of such methods of sale, at a fixed price or prices, which may be changed, or at market prices prevailing at the time of sale, at prices related to such prevailing market prices or at negotiated prices.

The Company common stock is being offered pursuant to an automatic shelf registration statement (including a prospectus) filed by the Company with the Securities and Exchange Commission (the “SEC“) and became effective upon filing. Before considering an investment, investors should read the prospectus in that registration statement, the prospectus supplement related to this offering and other documents the Company has filed with the SEC for more complete information about the Company and this offering. These documents are available without charge by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, a copy of the prospectus supplement and accompanying prospectus may be requested by calling the Company at (516) 683-4420 or by contacting Barclays Capital Inc. c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, at Barclaysprospectus@broadridge.com or (888) 603-5847.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state of jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.