Flushing Financial Corporation Announces Pricing of Common Stock Offering

Flushing Financial Corporation, a financial institution headquartered in Uniondale, New York (NASDAQ:FFIC), disclosed in an 8-K filing with the Securities and Exchange Commission on December 12, 2024, that it has entered into an underwriting agreement for a public stock offering. The Company has reached an agreement with Keefe, Bruyette & Woods, Inc., Piper Sandler & Co., and Raymond James & Associates, Inc. (the “Underwriters”) to sell 4,590,164 shares of its common stock at $15.25 per share to the public. There is also an option for the Underwriters to purchase an additional 688,524 shares within 30 days to cover potential overallotments.

After accounting for underwriting discounts, commissions, and offering expenses, Flushing Financial anticipates net proceeds of approximately $66,325,001. If the Underwriters exercise their full option, this amount could increase to approximately $76,273,751. The Company intends to utilize these funds for general corporate purposes, including supporting its subsidiary, Flushing Bank, by enhancing the Bank’s capital ratios in light of potential strategic portfolio adjustments and the prospective sale of certain commercial real estate loans.

The offering is foreseen to conclude around December 16, 2024, subject to the fulfillment of customary closing conditions. Specific details of the agreement, such as representations, warranties, and covenants of the Company, are outlined in the Underwriting Agreement. Notably, the shares offered are being made under the Company’s effective Registration Statement on Form S-3.

In conjunction with this offering, Flushing Financial issued press releases on December 12, 2024. These releases informed the public about the initiation and pricing of the offering. Interested parties can access the full details related to the offering in the Company’s filings with the Securities and Exchange Commission.

For further information about the offering or to obtain pertinent documents, prospective investors can visit the SEC’s website at www.sec.gov or reach out to the joint book-running managers. The coordinated efforts of Keefe, Bruyette & Woods, Inc., Piper Sandler & Co., and Raymond James & Associates, Inc. are instrumental in facilitating this offering.

This press release serves as a disclosure for informational purposes and does not constitute an offer to sell securities. It is vital to acknowledge that neither the FDIC nor any governmental agency insures or guarantees the securities that are part of this offering. More detailed information regarding the implications of this offering can be accessed through the SEC website or the Company’s specified contacts.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Flushing Financial’s 8K filing here.

Flushing Financial Company Profile

Flushing Financial Corporation operates as the bank holding company for Flushing Bank that provides banking products and services primarily to consumers, businesses, and governmental units. It offers various deposit products, including checking and savings accounts, money market accounts, non-interest bearing demand accounts, NOW accounts, and certificates of deposit.