First Republic (FRC) Launches 10M Common Secondary Offering
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First Republic Bank (NYSE: FRC) announces a secondary 10 million common offering.
All of the shares in the offering are being sold by shareholders of First Republic, including certain members of First Republic’s management. In addition, the selling shareholders will grant the underwriters an option to purchase up to an additional 1,500,000 shares from the selling shareholders. First Republic will not receive any proceeds from the sale of common stock by the selling shareholders.
Morgan Stanley, BofA Merrill Lynch, J.P. Morgan and Jefferies are joint book-running managers.
All of the shares in the offering are being sold by shareholders of First Republic, including certain members of First Republic’s management. In addition, the selling shareholders will grant the underwriters an option to purchase up to an additional 1,500,000 shares from the selling shareholders. First Republic will not receive any proceeds from the sale of common stock by the selling shareholders.
Morgan Stanley, BofA Merrill Lynch, J.P. Morgan and Jefferies are joint book-running managers.
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