Five Star Bancorp (FSBC), a bank holding company, on Thursday announced the pricing of the previously declared public offering of 3,450,000 shares at $21.75 per share for proceeds of around $70.9 million.
In addition, the lender has granted the underwriters a 30-day option to purchase up to an additional 517,500 shares at the offering price.
The company intends to use the net proceeds of this offering, to be closed on or about April 2, for general corporate purposes and working capital.
Keefe, Bruyette & Woods, A Stifel Company is acting as the book runner, whereas Stephens Inc. and D.A. Davidson & Co. are serving as co-managers for the offering.
FSBC was trading down by 8.61 percent at $21.80 on the Nasdaq.
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