logo
  

First Republic Prices Underwritten Public Offering - Quick Facts

First Republic Bank (FRC) has priced an underwritten public offering of 2 million shares of its common stock for expected gross proceeds of approximately $390.3 million. Closing of the offering is anticipated to occur on or about August 12, 2021. The company has granted the underwriters a 30-day option to purchase up to an additional 300,000 shares from First Republic.

First Republic plans to use the net proceeds from the offering for general corporate purposes which may include funding loans or purchasing investment securities for its portfolio.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
MTD Products Inc. is recalling 1,774 units of walk-behind self-propelled lawn mowers for potential risk of fire hazard, a statement by the U.S. Consumer Product Safety Commission (CPSC) showed. The company said the lawn mower can leak fuel when it is stored in the upright (vertical) storage position to pose a fire hazard. Nike Inc. announced its plans to exit the Russian market completely following Russia's ongoing war against Ukraine, reports said. The sportswear major, with more than 100 stores in the country, had suspended operations there in March. Earlier in March, while suspending operations temporarily, the company had said its customers that it couldn't guarantee product shipments. The U.S. Food and Drug Administration unveiled its action plan to advance drug development for rare neurodegenerative diseases, including Amyotrophic Lateral Sclerosis or ALS, in five years. The FDA plans specific actions such as regulatory science initiatives, enhancements to existing programs and new policy initiatives for the purpose. It will use public-private partnerships...
RELATED NEWS
Follow RTT