As noted yesterday New York community banker Dime Community Bancshares (DCOM) is ‘reopening’ a previous issue of preferred stock–it is the 5.50% perpetual issued in January.
The company is offering 2 million shares plus an additional 300,000 shares for over allotment. The offering price is $19.87/shares.
Shares had moved lower yesterday on the announcement of the reopening and closed yesterday at $20.85.
Shares opened today at $20.25, but have now moved to $20.60.
The pricing term sheet is here.
Thanks to 2whiteroses for picking up the pricing.