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WESTBURY, N.Y. - Regional bank New York Community Bancorp Inc. said it has priced an offering of 15.5 million shares at $19.35 per share for proceeds of about $301 million.
| NYB | 15.88 |  0.23 |
The company said Monday night that a portion of the proceeds will be used to offset the impact of prepaying about $3 billion to $4 billion of higher-cost wholesale borrowings. The rest of the money will be used for general corporate purposes, New York Community Bancorp said.
Raymond James & Associates Inc. is the underwriter for the offering and has the option to buy up to 2.33 million additional shares of the company's common stock to cover overallotments, the company added.
The offering is expected to close May 23.
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