NYCB Reveals Reverse Stock Split Decision Post $1.05B Cash Injection
Tuesday, 12 March 2024, 14:14
NYCB Announces Reverse Stock Split
NYCB has revealed its decision to carry out a reverse stock split as a strategic move to enhance its financial position amid ongoing challenges.
Financial Boost of $1.05 Billion
The struggling bank has closed a major deal, finalizing a $1.05 billion infusion to strengthen its balance sheet.
Stock Rise Following the Announcement
- The market responded positively to NYCB's announcement, resulting in a surge in its stock value.
- The reverse stock split is aimed at bolstering market confidence and showcasing the bank's commitment to recovery.
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