07:22 AM EDT, 03/12/2024 (MT Newswires) -- New York Community Bancorp ( NYCB/PU ) said Monday it has closed its deal for a $1.05 billion capital infusion from investors including Liberty Strategic Capital, Hudson Bay Capital Management and Reverence Capital Partners.

The company said its board has been reduced to 10 members and four new directors have been added, including former US Treasury Secretary Steven Mnuchin, former Comptroller of the Currency Joseph Otting, Reverence Capital managing partner Milton Berlinski, and Allen Puwalski, at the recommendation of Hudson Bay Capital.

The bank holding company also said it plans to submit for shareholder approval a proposal for a 1-to-3 reverse stock split.

NYCB shares were 4% higher in premarket trading on Tuesday.

Price: 3.4, Change: +0.15, Percent Change: +4.62