First Republic Bank (FRC) Announces Proposed 2.5M Share Common Offering

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Go back to First Republic Bank (FRC) Announces Proposed 2.5M Share Common Offering

First Republic Bank Announces Common Stock Offering

January 14, 2020 4:12 PM EST

SAN FRANCISCO--(BUSINESS WIRE)-- First Republic Bank (First Republic) (NYSE: FRC), a leading private bank and wealth management company, today announced that it has agreed to sell 2,500,000 shares of its common stock in an underwritten public offering. First Republic has also granted the underwriters a 30-day option to purchase up to an additional 375,000 shares from First Republic. BofA Securities, J.P. Morgan, Goldman Sachs & Co. LLC, Morgan Stanley and Keefe, Bruyette & Woods, a Stifel Company, are serving as joint bookrunning managers.

First Republic intends to use the net proceeds from the offering... More