Flagstar Bancorp announces pricing of common stock offering – NMP Skip to main content

Flagstar Bancorp announces pricing of common stock offering

NationalMortgageProfessional.com
Mar 26, 2010

Flagstar Bancorp, the holding company for Flagstar Bank FSB, announced that it has priced a public offering of 500 million shares of common stock to the public at $0.50 per share for total gross proceeds of approximately $250.0 million. The company expects to close the sale of the shares of common stock on March 31, 2010, subject to customary closing conditions. The underwriters will have a 30-day option to purchase up to an additional 75 million shares of common stock from the company at the offering price, less underwriters' discounts and commissions solely to cover over-allotments. The public offering is being underwritten by Sandler O'Neill & Partners LP, as book-running manager, and Keefe, Bruyette & Woods, Inc., as co-manager. The company has filed a preliminary prospectus supplement to its already effective registration statement with the Securities & Exchange Commission (SEC) for the offering to which this communication relates. Before investing, prospective investors should read the preliminary prospectus supplement and related prospectus and other documents that the company files with the SEC for more complete information about the company and the offering. Investors may obtain these documents without charge by visiting EDGAR on the SEC Web site at www.sec.gov.   The company is a savings and loan holding company headquartered in Michigan with $14.0 billion in total assets as of Dec. 31, 2009. At Dec. 31, 2009, the company operated 165 banking centers in Michigan, Indiana and Georgia and 23 home loan centers in 14 states and originates residential mortgage loans nationwide. For more information, visit www.flagstar.com.
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