The Firm represented Sandler O’Neill & Partners, L.P. and Keefe, Bruyette & Woods, Inc., as underwriters, in a secondary offering of 8,000,000 shares of Flagstar Bancorp, Inc.’s (“Flagstar Bancorp”) common stock, resulting in aggregate proceeds of $271 million. The shares were sold by MP Thrift Investments L.P. (“MP Thrift”). After the completion of the offering, MP Thrift owns approximately 47.9% of the issued and outstanding shares of Flagstar Bancorp’s common stock.
Flagstar Bancorp, Inc. is a $17.7 billion savings and loan holding company headquartered in Troy, Michigan. Its principal subsidiary, Flagstar Bank, FSB, provides commercial, small business and consumer banking services through 99 branches in Michigan and 8 branches in California through its Desert Community Bank division. It also provides home loans through a wholesale network of brokers and correspondents in all 50 states, as well as through 92 retail locations in 31 states.
The Simpson Thacher team included Lesley Peng and Ashley Yoon (Capital Markets); Keith Noreika and Spencer Sloan (Bank Regulatory); Larry Moss and Stephan Bradley (ECEB); Jonathan Cantor, Andrew Purcell and Jasmine Hay (Tax); and Jennie Getsin (FINRA and Blue Sky).