NY Community (NYCB) just unveiled an update.
At New York Community Bancorp’s Annual Meeting on June 5, 2024, shareholders approved significant proposals, including the expansion of authorized shares of stock, changes to voting rights for certain investors, and the automatic conversion of Series C Preferred Stock into Common Stock. These approvals led to the cessation of certain dividend and liquidation preferences for Series B Preferred Stock and eliminated the need to issue cash-settled warrants for the March 2024 capital raise. Post-conversion, the company’s outstanding common stock increased to over 1 billion shares. These strategic moves are poised to influence the company’s financial structure and stock market presence.
See more data about NYCB stock on TipRanks’ Stock Analysis page.
