trending Market Intelligence /marketintelligence/en/news-insights/trending/gwbn8sgljzsji_ulih5swq2 content esgSubNav
In This List

Flagstar Bancorp closes secondary offering of common stock

Blog

Insight Weekly: US banks' loan growth; record share buybacks; utility M&A outlook

Blog

Banking Essentials Newsletter 2021: December Edition

Blog

Automating Credit Risk Surveillance Using Statistical Models

Blog

Post-webinar Q&A: Speed and Scalability – Automation in Credit Risk Modeling


Flagstar Bancorp closes secondary offering of common stock

Troy, Mich.-based Flagstar Bancorp Inc. has completed its secondary offering of 8 million common shares by MP Thrift Investments LP at $34.50 per share.

MP Thrift has granted the underwriters a 30-day option to purchase up to an additional 1.2 million Flagstar common shares.

Flagstar Bancorp did not receive any proceeds from the offering.

Upon closing, MP Thrift held about 47.9% of the company's outstanding common stock, assuming that the underwriters' option to purchase additional shares is not exercised. As a result, Flagstar Bancorp no longer qualifies as a "controlled company" under the New York Stock Exchange listed company manual.

Sandler O'Neill & Partners LP and Keefe Bruyette & Woods are the underwriters for the offering.