Form 4: Liberty 77 Capital L.P. Reports Conversion of Series B Preferred Stock and Resulting Common Stock Ownership in New York Community Bancorp
SEC Form 4
Liberty 77 Capital L.P. and related entities report the conversion of Series B Preferred Stock into common stock of New York Community Bancorp following a reverse stock split.
Summary
- Liberty 77 Capital L.P. filed a Form 4 detailing changes in beneficial ownership of New York Community Bancorp, Inc. (NYCB) stock.
- The report covers transactions occurring on August 12, 2024.
- The filing reflects the conversion of 29,000 shares of Series B Noncumulative Convertible Preferred Stock into 9,666,665 shares of Common Stock.
- This conversion occurred following a one-for-three reverse stock split that NYCB implemented on July 11, 2024.
- After the reported transaction, Liberty 77 Capital L.P. and related entities beneficially own 36,881,765 shares of NYCB Common Stock.
- The filing includes disclosures for Liberty Strategic Capital (CEN) Holdings, LLC, Liberty 77 Capital Partners L.P., Liberty Capital L.L.C., STM Partners LLC, and Steven T. Mnuchin, all related to Liberty 77 Capital L.P.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing a stock conversion, with no inherent positive or negative sentiment.
Industry Context
Form 4 filings are standard disclosures required by the SEC when significant changes in ownership occur, providing transparency to investors.
Stakeholder Impact
- The conversion of preferred stock to common stock may dilute existing shareholders' equity.
- The increased common stock ownership by Liberty 77 Capital L.P. could influence future corporate decisions.
Key Dates
| Date | Description |
|---|---|
| March 7, 2024 | Date of the Investment Agreement between the Issuer and the Liberty Purchaser. |
| March 11, 2024 | Amendment date of the Investment Agreement. |
| March 27, 2024 | Date Steven T. Mnuchin was granted service-based restricted stock units. |
| June 5, 2024 | Date of Issuer's annual meeting where shareholders approved the Reverse Stock Split. |
| July 11, 2024 | Effective date of the one-for-three reverse stock split. |
| August 12, 2024 | Date of the transaction involving the conversion of Series B Preferred Stock into Common Stock. |
| August 13, 2024 | Date of signature for the reporting person. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.