New York Community Bancorp Shares Gain on Share Exchange Deals
New York Community Bancorp (NYCB) shares were up 9.7% in recent Tuesday trading after a regulatory filing showed that it signed separate share exchange agreements Monday with affiliates of funds managed by Liberty 77 Capital, Hudson Bay Capital Management, and Reverence Capital Partners.
As a result of the exchanges, Liberty holds 114,355 shares of series B preferred stock, which are convertible into approximately 38.1 million shares of common stock, and Hudson Bay now holds 14,350 shares of series B preferred stock, which are collectively convertible into almost 4.8 million shares of common stock.
Reverence exchanged 11,857 shares of series B preferred stock for the issuance by the company of just under 4 million shares of common stock.
The company said the exchanges were made on Monday.
Price: 10.33, Change: +0.91, Percent Change: +9.72
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