Dime Community Bancshares (DCOM) Prices 2M Preferred Share Common Offering

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Go back to Dime Community Bancshares (DCOM) Prices 2M Preferred Share Common Offering

Dime Community Bancshares, Inc. Prices Public Offering of Preferred Stock

June 3, 2020 10:04 PM EDT

BROOKLYN, N.Y., June 03, 2020 (GLOBE NEWSWIRE) -- Dime Community Bancshares, Inc. (the Company) (Nasdaq: DCOM) today announced that it has priced an underwritten public offering of 2,000,000 shares, or $50.0 million in aggregate liquidation preference, of its 5.50% Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series A, par value $0.01 per share (the Preferred Stock), with a liquidation preference of $25.00 per share.

The Company expects to use the net proceeds from the offering, which are expected to be $38.5 million (gross proceeds less underwriting discount and estimated expenses), for general corporate purposes.

The Company has granted the underwriters a... More