First Republic Bank (FRC) Prices 2.25M Share Offering at $157.02/sh

First Republic Bank (“First Republic”) (NYSE: FRC), a leading private bank and wealth management company, announced today the pricing of an underwritten public offering of 2,250,000 shares of its common stock for expected gross proceeds of approximately $353.3 million before underwriting discounts and commissions and estimated offering expenses. First Republic has also granted the underwriters a 30-day option to purchase up to an additional 337,500 shares from First Republic. BofA Securities, J.P. Morgan, Goldman Sachs & Co. LLC and Morgan Stanley are serving as joint bookrunning managers.

The last reported sale price of its common stock on August 1, 2022 was $162.38 per share. The underwriters propose to offer the shares of common stock for sale from time to time in one or more transactions on the New York Stock Exchange, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices, subject to their right to reject any order in whole or in part.

First Republic intends to use the net proceeds from the offering for general corporate purposes, which may include, among other things, funding loans or purchasing investment securities for its portfolio.

Closing of the offering is expected to occur on or about August 4, 2022, subject to the satisfaction of customary closing conditions.

The offering will be made only by means of an offering circular. The offering circular relating to the offering will be available at www.frc-offering.com and furnished on a Current Report on Form 8-K that will be filed with the Federal Deposit Insurance Corporation. Copies of the offering circular may also be obtained when available from BofA Securities, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, North Carolina 28255-0001, Attention: Prospectus Department, or email: [email protected]; from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at 1-866-803-9204, or by email at [email protected]; from Goldman Sachs & Co. LLC, 200 West Street, New York, NY 10282 Attention: Prospectus Department, telephone: (866) 471-2526 or email: [email protected]; or from Morgan Stanley & Co. LLC - Attn: Prospectus Department - 180 Varick Street, 2nd Floor - New York, New York 10014.

This press release is for informational purposes only and shall not constitute an offer to sell or a solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The securities are neither insured nor approved by the Federal Deposit Insurance Corporation or any other governmental agency.

You May Also Be Interested In

• VICI Properties closes $1.75B senior unsecured notes offering
• enCore Energy launches $250M at-the-market share offering
• Silence Therapeutics closes $201M public offering of ADSs