Flushing Financial seeks to raise $70 million to shore up capital as it unloads underwater bonds
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Flushing Financial is seeking to raise $70 million to strengthen its capital by selling low-yielding bonds and loans backed by commercial real estate, which will result in a loss and require the sale of new stock.
December 12, 2024 | 11:30 pm
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Flushing Financial is raising $70 million by selling low-yield bonds and real estate loans, which will result in a loss and require issuing new stock.
The sale of low-yield bonds and real estate loans will generate a loss for Flushing Financial, necessitating the issuance of new stock. This could dilute existing shares and negatively impact the stock price in the short term.
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