Shares sold at $15.50 each in public sale, registered direct offering
By Devika Patel
Knoxville, Tenn., June 23 - First PacTrust Bancorp, Inc. priced a $24.55 million public offering of stock in a prospectus supplement filed Thursday with the Securities and Exchange Commission. There is a $3.68 million greenshoe for the deal, which was announced Wednesday. The company also priced a $3.21 million registered direct offering of stock.
The company will sell 1,583,641 common shares at $15.50 apiece. The price per share reflects a 4.73% discount to the June 22 closing share price of $16.27.
Robert W. Baird & Co. Inc. is the sole bookrunning manager. D.A. Davidson & Co., FIG Partners, LLC and Wunderlich Securities, Inc. are co-managers.
Additionally, existing shareholders St. Cloud Capital Partners II, LP and TCW Shared Opportunities Fund V, LP have agreed to purchase 207,360 shares in a separate registered direct offering at the same price per share as offered to the public. If the underwriters exercise their over-allotment option in the public sale, St. Cloud and TCW will buy an additional 31,104 shares at the same price.
Settlement is expected June 28.
Proceeds of both offerings will be used for general corporate purposes, which may include investments, capital infusions to support growth, acquisitions and other business opportunities.
The savings and loan holding company for Pacific Trust Bank is based in Chula Vista, Calif.
| Issuer: | First PacTrust Bancorp, Inc.
|
| Issue: | Common shares
|
| Amount: | $27,760,516
|
| Price: | $15.50
|
| Warrants: | No
|
| Pricing date: | June 23
|
| Settlement date: | June 28
|
| Stock symbol: | Nasdaq: FPTB
|
| Stock price: | $16.27 at close June 22
|
| Market capitalization: | $147.2 million
|
|
|
| Public sale
|
| Amount: | $24,546,436
|
| Greenshoe: | $3,681,963
|
| Shares: | 1,583,641
|
| Bookrunning manager: | Robert W. Baird & Co. Inc.
|
| Announcement date: | June 22
|
|
|
| Registered direct offering
|
| Amount: | $3,214,080
|
| Greenshoe: | $482,112
|
| Shares: | 207,360
|
| Investors: | St. Cloud Capital Partners II, LP and TCW Shared Opportunities Fund V, LP
|
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