Benzinga | Nov 12, 2020 08:34AM EST

First Republic Bank Prices 1.5M Share Common Stock Offering For Expected Gross PRoceeds Of ~$198.3M

First Republic Bank ("First Republic") (NYSE:FRC), a leading private bank and wealth management company, today announced the pricing of an underwritten public offering of 1,500,000 shares of its common stock for expected gross proceeds of approximately $198.3 million before underwriting discounts and commissions and estimated offering expenses. First Republic has also granted the underwriters a 30-day option to purchase up to an additional 225,000 shares from First Republic. BofA Securities, J.P. Morgan and Morgan Stanley are serving as joint bookrunning managers.