Market Overview

Flagstar Bancorp, Inc. Announces Pricing of Secondary Offering of Common Stock

Share:

TROY, Mich., Nov. 5, 2020 /PRNewswire/ -- Flagstar Bancorp, Inc. (NYSE:FBC) (the "Company") today announced the pricing of its previously announced registered public secondary offering of 9,112,705 shares of the Company's common stock at a public offering price of $30.60 per share.  All of the shares have been offered by MP Thrift Investments L.P. ("MP Thrift").  MP Thrift is selling all of their remaining stake in the Company as a result of this offering.

The Company is not selling any shares of common stock and will not receive any proceeds from the proposed offering.  Upon completion of the offering, MP Thrift will no longer beneficially own shares of the Company's common stock.  The offering is expected to close on November 10, 2020, subject to customary closing conditions.

Morgan Stanley is acting as underwriter for the offering.

The offering will be made only by means of an effective registration statement and a prospectus.  Copies of the preliminary prospectus supplement and the accompanying prospectus relating to the proposed offering may be obtained from: Morgan Stanley at 180 Varick Street, 2nd Floor, New York, NY 10014, Attention: Prospectus Department.  Copies of the preliminary prospectus supplement and the related prospectus may also be obtained free of charge from the website of the U.S. Securities and Exchange Commission (the "SEC") at http://www.sec.gov.

The Company has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates.  Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering.  Copies of the registration statement can be accessed through the SEC's website at www.sec.gov.  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 jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

About Flagstar

Flagstar Bancorp, Inc. (NYSE:FBC) is a $29.5 billion savings and loan holding company headquartered in Troy, Mich. Flagstar Bank, FSB, provides commercial, small business, and consumer banking services through 160 branches in Michigan, Indiana, California, Wisconsin and Ohio. It also provides home loans through a wholesale network of brokers and correspondents in all 50 states, as well as 87 retail locations in 29 states, representing the combined retail branches of Flagstar and its Opes Advisors mortgage division. Flagstar is a leading national originator and servicer of mortgage and other consumer loans, handling payments and record keeping for $227.4 billion of loans representing slightly over 1.1 million borrowers.  

Forward-Looking Statements

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  These forward-looking statements reflect our current views with respect to, among other things, future events and our financial performance.  These statements are often, but not always, made through the use of words or phrases such as "may," "might," "should," "could," "predict," "potential," "believe," "expect," "continue," "will," "anticipate," "seek," "estimate," "intend," "plan," "projection," "would," "annualized" and "outlook," or the negative version of those words or other comparable words or phrases of a future or forward-looking nature.  These forward-looking statements are not historical facts, and are based on current expectations, estimates and projections about our industry, management's beliefs and certain assumptions made by management, many of which, by their nature, are inherently uncertain and beyond our control.  Accordingly, we caution you that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions, estimates and uncertainties that are difficult to predict.  Although we believe that the expectations reflected in these forward-looking statements are reasonable as of the date made, actual results may prove to be materially different from the results expressed or implied by the forward-looking statements.  For a discussion of some of the risks and important factors that could affect our future results and financial condition, see our SEC filings, including, but not limited to, the prospectus described in this press release.

Contact information

Analyst Contact:
Kenneth M. Schellenberg
(248) 312-5741
FBCInvestorRelations@flagstar.com

Media: 
Susan Bergesen
(248) 312-6237
susan.bergesen@flagstar.com

 

Cision View original content:http://www.prnewswire.com/news-releases/flagstar-bancorp-inc-announces-pricing-of-secondary-offering-of-common-stock-301167699.html

SOURCE Flagstar Bancorp, Inc.

View Comments and Join the Discussion!
 
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com