Ponce Financial Group, Inc. entered into a purchase agreement for 225,000 senior non-cumulative perpetual preferred stock Series A at a price of $1,000 per share for gross proceeds of $225,000,000 on June 7, 2022. The transaction included participation from United States Department of The Treasury. The company has the option to redeem the shares of preferred stock in whole or in part on any dividend payment date on or after June 15, 2027, or in whole but not in part at any time within ninety days following a regulatory capital treatment event, as defined in the purchase agreement, in each case at a cash redemption price equal to the liquidation amount, with an amount equal to any dividends that have been declared but not paid prior to the redemption date.