NYCB exchanges 63,357 Series B preferred shares for 21.1M common shares with three investors

FLAGSTAR BANK, NATIONAL ASSOCIATION

Liberty 77 Capital exchanged 29,000 Series B shares for 9,666,665 common shares; Hudson Bay exchanged 22,500 Series B for 7,499,998 common; Reverence exchanged 11,857 Series B for 3,952,332 common.
Common shares outstanding post-exchange: 372,551,600 (up from 351,432,605 as of Aug 9).
Exchanges comply with 9.99% beneficial ownership cap; no investor exceeds limit after transaction.
Reverence holds no Series B after exchange; Liberty retains 114,355 Series B convertible to ~38.1M common; Hudson Bay retains 14,350 Series B convertible to ~4.78M common.
Series B shares were acquired in March 2024 as part of a $1.05B capital raise; exchanges were contemplated under the original investment agreements.

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