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.
For comments and feedback contact: editorial@rttnews.com
Business News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.