"NYCB Secures $1 Billion Equity Raise Anchored by Steven Mnuchin's Firm"
TL;DR Summary
New York Community Bancorp (NYCB) announced a $1 billion capital raise with investment firms including Steve Mnuchin's Liberty Strategic Capital, as the struggling bank seeks to shore up its balance sheet. Mnuchin and former comptroller of the currency Joseph Otting will join the board, with Otting taking over as CEO. The stock, which had already fallen sharply, was halted for news pending and is now below $2 per share. This comes after a turbulent start to the year for NYCB, including a credit rating downgrade and the identification of internal control weaknesses.
- NYCB announces $1 billion capital raise from firms including Steve Mnuchin's Liberty Strategic Capital CNBC
- NYCB raises more than $1 billion in equity investment anchored by former Treasury Secretary Steven Mnuchin's firm MarketWatch
- NYCB Raises More Than $1 Billion in Equity Led by Steven Mnuchin's Firm Bloomberg
- CNBC's 'Halftime Report' investment committee react to the New York Community Bank capital raise MSN
- Embattled lender NYCB says it has raised more than $1 billion in equity StreetInsider.com
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