First Republic Bank (FRC) Announces 1.5M Share Common Stock Offering
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First Republic Bank Announces Common Stock Offering
March 1, 2021 4:06 PM ESTSAN 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 1,500,000 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 225,000 shares from First Republic. BofA Securities, J.P. Morgan and Morgan Stanley are serving as joint bookrunning managers.
First Republic intends to use the net proceeds from the offering for general corporate purposes, which may include, among other things, funding... More
