M&A - VALLEY NATIONAL BANCORP

Form Type: S-3ASR

Filing Date: 2025-05-20

Corporate Action: Acquisition

Type: New

Accession Number: 000071431025000103

Filing Summary: On May 20, 2025, Valley National Bancorp filed a registration statement under Form S-3ASR with the SEC, pertaining to the public resale of up to 72,861,862 shares of common stock held by a selling shareholder, as required by the merger agreement resulting from the prior acquisition of Bank Leumi Le-Israel Corporation (Leumi USA) completed on April 1, 2022. The document outlines that the registration of the shares does not obligate the selling shareholder to sell the shares, and Valley will not benefit from the sale proceeds. The common stock is traded on Nasdaq under the ticker symbol 'VLY'. The prospectus details the structure of the company, which as of March 31, 2025, reported consolidated total assets of $61.9 billion and emphasized the diverse service offerings provided through its subsidiaries, including traditional banking and wealth management services. It also notes that the shares are not insured by the FDIC or any government agency. Investors are advised to consider the risk factors detailed in the prospectus before investing.