NYCB - New York Community Bancorp Stock Halted After News Of Bank Seeking Capital Infusion Shares Down 40% (UPDATED) | Benzinga
Editor’s Note: This article has been updated with details on New York Community Bancorp’s recent equity investment, board appointments, and CEO transition.
New York Community Bancorp Inc (NYSE:NYCB) shares are tanking Wednesday following reports suggesting the company has contacted investment firms for a potential equity sale and is seeking outside capital.
What To Know: New York Community Bancorp shares were halted several times in early trading Wednesday after The Wall Street Journal reported that the company was seeking capital to shore up confidence in the regional bank.
People familiar with the matter reportedly said New York Community Bancorp had tasked bankers with gauging investor interest in potentially buying stock in the company.
In a new press release issued Wednesday afternoon, New York Community Bancorp announced an equity investment of more than $1 billion from Liberty Strategic Capital, Hudson Bay Capital, Reverence Capital Partners, Citadel Securities, other institutional investors and some members of the New York Community Bancorp’s management team.
Liberty Strategic Capital is expected to invest $450 million, Hudson Bay will invest $250 million and Reverence Capital will invest $200 million as part of the transaction.
New York Community Bancorp will sell and ...