Flagstar Bancorp’s $251 Million Secondary Offering Of Common Stock


Simpson Thacher represented Morgan Stanley, as underwriter, in a secondary offering of 7,000,000 shares of Flagstar Bancorp, Inc.’s common stock, including green shoe.

The shares were sold by MP Thrift Investments L.P., resulting in aggregate proceeds of approximately $251 million.

After the completion of the offering, MP Thrift owned approximately 36.5% of the issued and outstanding shares of Flagstar Bancorp’s common stock.

Flagstar Bancorp, Inc. is a $22 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 160 full-service banking branches throughout Michigan, Indiana, California, Wisconsin, Ohio and contiguous states. It also provides home loans through a wholesale network of brokers and correspondents in all 50 states, as well as through 78 retail locations in 21 states and two call centers.

The Simpson Thacher team included Lesley Peng (Picture), Sean Dougherty and Nelson Wang (Capital Markets); Keith Noreika, Adam Cohen and Spencer Sloan (Bank Regulatory); Larry Moss and Jeanne Annarumma (ECEB); Jonathan Cantor and Abigail Hopper (Tax); and Andrew Pagliughi (FINRA and Blue Sky).

Involved fees earner: Sean Dougherty – Shearman & Sterling; Jeanne Annarumma – Simpson Thacher & Bartlett; Jonathan Cantor – Simpson Thacher & Bartlett; Adam Cohen – Simpson Thacher & Bartlett; Abigail Hopper – Simpson Thacher & Bartlett; Laurence Moss – Simpson Thacher & Bartlett; Keith Noreika – Simpson Thacher & Bartlett; Andrew Pagliughi – Simpson Thacher & Bartlett; Lesley Peng – Simpson Thacher & Bartlett; Spencer Sloan – Simpson Thacher & Bartlett; HongDa Wang – Simpson Thacher & Bartlett;

Law Firms: Shearman & Sterling; Simpson Thacher & Bartlett;

Clients: Morgan Stanley;