First Republic Bank FRC today announced the pricing of a public
offering of 6,000,000 depositary shares, each representing a 1/40th
interest in a share of its 5.625% Noncumulative Perpetual Series C
Preferred Stock, at a public offering price of $25.00 per depositary
share. In addition, First Republic has granted the underwriters an
option for up to 30 days to purchase up to an additional 900,000
depositary shares at the public offering price less the underwriting
discount. First Republic expects to use the net proceeds from the
offering for general corporate purposes, which may include, among other
things, funding loans or purchasing investment securities for its
portfolio.
See full press release
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in