First Foundation to price 2,222,222 shares in IPO at $21.00 to $24.00

Sandler O'Neill and Keefe, Bruyette & Woods will be joint bookrunners

By Devika Patel

Knoxville, Tenn., May 9 - First Foundation Inc. will sell 2,222,222 common shares in its initial public offering with a 30-day greenshoe of 333,333 additional shares, according to a Form S-1/A filed Friday with the Securities and Exchange Commission. The deal was announced April 21.

The shares will be sold at a price expected to fall between $21.00 and $24.00 per share.

Sandler O'Neill + Partners, LP and Keefe, Bruyette & Woods are the joint bookrunning managers. Sterne Agee & Leach Inc. is the co-manager.

Proceeds will be used to repay a $21.9 million term loan, for growth, for possible acquisitions and for other general corporate purposes.

The financial services company is based in Irvine, Calif. The company intends to list its common stock on the Nasdaq under the symbol "FFWM."

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