Flagstar Bancorp Inc. in Troy, Mich., has priced the $250 million common equity offering it announced earlier this month.

The $14 billion-asset company said Friday that it would sell 500 million shares at 50 cents a share, a 35% discount to the March 12 closing price, the last business day before the capital raise was announced.

Flagstar said it expects to close the offering Wednesday. The $250 million raise follows its rights offering, which garnered $300.6 million, about 60% of its goal in that offering.

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