New York community banker Dime Community Bancshares (DCOM) has ‘reopened’ a previous preferred issue.
The issue they are reopening is the 5.50% Non-cumulative preferred issue (DCOMP) sold in late January. Shares are rated BB- by Fitch.
It is not yet know how many new shares (likely around 1.2 million) will be sold, but the currently outstanding shares are trading lower by 3% ($21.22) on the news.
The bank has also released a new investor presentation.
Thanks to mcg for catching this.