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.

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