Common shares sold at $15.50 each through bookrunner Robert W. Baird
By Devika Patel
Knoxville, Tenn., July 27 - First PacTrust Bancorp, Inc. raised $25.09 million in a public offering of its common stock, according to an 8-K filed Wednesday with the Securities and Exchange Commission. The deal priced for $24.55 million with a $3.68 million over-allotment option, which was partially exercised, on June 23. The offering was announced June 22.
The company sold 1,618,641 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. Of the shares, 35,000 were part of the partially exercised greenshoe.
Robert W. Baird & Co. Inc. was the bookrunner. D.A. Davidson & Co., FIG Partners, LLC and Wunderlich Securities, Inc. were the co-managers.
Proceeds 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 is based in Chula Vista, Calif.
| Issuer: | First PacTrust Bancorp, Inc.
|
| Issue: | Common shares
|
| Amount: | $25,088,936, including $542,500 from greenshoe
|
| Shares: | 1,618,641
|
| Price: | $15.50
|
| Warrants: | No
|
| Bookrunner: | Robert W. Baird & Co. Inc.
|
| Co-managers: | D.A. Davidson & Co., FIG Partners, LLC, Wunderlich Securities, Inc.
|
| Announcement date: | June 22
|
| Pricing date: | June 23
|
| Settlement date: | July 27
|
| Stock symbol: | Nasdaq: FPTB
|
| Stock price: | $16.27 at close June 22
|
| Market capitalization: | $142.64 million
|
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