Company sells 495,000 additional shares
By Marisa Wong
Madison, Wis., Jan. 7 - Pacific Premier Bancorp, Inc. said the underwriters of its previously announced public offering of stock exercised in full their over-allotment option for 495,000 shares. This brings the total deal size to $37.95 million; the initial $33 million settled on Dec. 11.
As previously reported, the price per share of $10.00 reflects a 2.06% discount to the Dec. 5 closing share price of $10.21.
Raymond James & Associates, Inc. and D.A. Davidson & Co. are the bookrunners.
Settlement for the additional shares is expected to occur on Jan. 9.
Proceeds will be used for general corporate purposes, to support growth and to augment the capitalization of Pacific Premier Bank.
The bank holding company is based in Irvine, Calif.
| Issuer: | Pacific Premier Bancorp, Inc.
|
| Issue: | Common stock
|
| Amount: | $37.95 million (including fully exercised $4.95 million greenshoe)
|
| Shares: | 3,795,000 (including 495,000 shares from greenshoe)
|
| Price: | $10.00
|
| Warrants: | No
|
| Bookrunners: | Raymond James & Associates, Inc. and D.A. Davidson & Co.
|
| Announcement date: | Dec. 5
|
| Pricing date: | Dec. 6 for $33 million, Jan. 7 for $4.95 million
|
| Settlement date: | Dec. 11 for $33 million, Jan. 9 for $4.95 million
|
| Stock symbol: | Nasdaq: PPBI
|
| Stock price: | $10.49 at close Jan. 4
|
| Market capitalization: | $143.06 million
|
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