Shares of First Republic Bank (FRC) are falling more than 31% Friday morning after the company said it has entered into agreement with certain accredited investors for a private placement of equity securities of the Company of about $125 million at $2.25 per share of equivalent securities.
The company plans to use the capital to execute its strategic plan to drive profitability.
FRC, currently at$66.03, has traded in the range of $66.03-$174.21 in the last 1 year.
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April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.