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Thursday, January 27, 2022

Equity Corporate Actions Alert #2022 - 15
Information Regarding the Plan of Conversion and Reorganization for PDL Community Bancorp (PDLB) and Ponce Financial Group, Inc.

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  • Industry Announcement

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The Plan of Conversion and Reorganization of PDL Community Bancorp (PDLB) from a New York mutual holding company to a newly formed Maryland stock holding company will become effective today, January 27, 2022 at 5:05 PM ET. Each existing share of PDL Community Bancorp (NY) will be exchanged for 1.3952 shares of Ponce Financial Group, Inc. (MD). The symbol will remain “PDLB. These changes will become effective on Friday, January 28, 2022.

The details regarding the name and CUSIP changes are as follows:

Current Company Name/Issue: PDL Community Bancorp Common Stock
Current CUSIP: 69290X101
New Company Name/Issue: Ponce Financial Group, Inc. Common Stock
New CUSIP: 732344106
Symbol: PDLB
Conversion Ratio: 1.3952 shares of Ponce Financial Group, Inc. for each share of PDL Community Bancorp held.

If you would like to register as a market maker in PDLB, contact Nasdaq Trading Services at +1 212 231 5100.

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