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FDIC is selling just over 39 million shares it owns after the Signature Bank deal. NYCB clarified it won’t receive any proceeds from the offering as it is FDIC that is selling.
“The offering is expected to close on May 19, 2023, subject to customary closing conditions,” it said in the press release.
FDIC plans to sell shares by June 8, at the latest.
It was announced in March that NYCB’s Flagstar Bank of Hicksville, New York was buying $38 billion of Signature Bank assets, including $25B in cash and about $13B in loans after the bank failed.
