First PacTrust Bancorp, Inc. Announces Partial Exercise of Underwriters’ Overallotment Option in Connection with Common Sto...
27 Luglio 2011 - 10:22PM
Business Wire
First PacTrust Bancorp, Inc. (the “Company”) (NASDAQ: FPTB), the
holding company for Pacific Trust Bank (the “Bank”), announced
today that the underwriters of the Company’s recently completed
public offering of voting common stock have partially exercised
their 30-day overallotment option, resulting in the issuance of an
additional 35,000 shares. Together with the 1,583,641 shares the
Company issued on June 28, 2011, the Company issued a total of
1,618,641 shares of voting common stock in the underwritten public
offering, at a price to the public of $15.50 per share ($14.6475
per share, net of underwriting discounts and commissions), for
gross proceeds of approximately $25.1 million. Robert W. Baird
& Co. Incorporated served as the sole book-running manager of
the underwritten public offering, and D.A. Davidson & Co., FIG
Partners, LLC and Wunderlich Securities, Inc. served as co-managers
of that offering.
As a result of the underwriters’ exercise of the overallotment
option, St. Cloud Capital Partners II, L.P. and TCW Shared
Opportunities Fund V, L.P., each an existing shareholder of the
Company (the “Existing Investors”), purchased from the Company an
aggregate of 4,583 additional shares of voting common stock.
Together with the 207,360 shares issued to the Existing Investors
on June 28, 2011, the Company issued a total of 211,943 shares of
voting common stock to the Existing Investors in the separate
registered offering made directly to them by the Company pursuant
to their existing contractual rights, at a price of $14.6475 per
share (the same price per share as offered to the public in the
underwritten public offering, net of underwriting discounts and
commissions), for gross proceeds of approximately $3.1 million.
The combined net proceeds of the offerings to the Company, after
deducting underwriting discounts and commissions for the
underwritten public offering and estimated expenses, are expected
to be approximately $26.6 million. The Company intends to use the
net proceeds from the offerings for general corporate purposes,
which may include, among other things, investments at the holding
company level, capital infusions to support the growth of the Bank,
acquisitions or other business combinations and other business
opportunities.
The shares were issued pursuant to prospectus supplements to the
prospectus filed with the Securities and Exchange Commission (the
“SEC”) as a part of the Company’s effective shelf-registration
statement on Form S-3 (File No. 333-170622).
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities nor shall there be
any sale of these securities in any jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such
jurisdiction. Offers may be made only by means of a prospectus and
a related prospectus supplement, copies of which for the
underwritten public offering may be obtained from Robert W. Baird
& Co. Incorporated, 777 East Wisconsin Avenue, Galleria Level,
Milwaukee, Wisconsin 53202-5391, or by calling 1-800-792-2413.
About the Company
First PacTrust Bancorp, Inc. is the parent holding company of
Pacific Trust Bank and is headquartered in Chula Vista, California.
The Bank currently operates through 11 banking offices serving
primarily San Diego and Riverside Counties in California. The Bank
provides customers with the convenience of banking at more than
4,300 branch locations throughout the United States as part of the
CU Services Network and 28,000 fee-free ATM locations through the
CO-OP ATM Network.
Forward-Looking Statements
This press release includes forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, including statements regarding the expected net proceeds of
the offerings described herein and the Company’s intended use of
those proceeds. These statements are necessarily subject to risk
and uncertainty and actual results could differ materially from
those anticipated due to various factors, including those set forth
from time to time in the Company's filings with the SEC. You should
not place undue reliance on forward-looking statements and the
Company undertakes no obligation to update any such statements to
reflect circumstances or events that occur after the dates on which
the forward-looking statements are made.
Grafico Azioni First Pactrust Bancorp, Inc. (MM) (NASDAQ:FPTB)
Storico
Da Mag 2024 a Giu 2024
Grafico Azioni First Pactrust Bancorp, Inc. (MM) (NASDAQ:FPTB)
Storico
Da Giu 2023 a Giu 2024